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Lagos – The Nigerian National Petroleum Company Limited (NNPC) raised petrol prices effective April 2, 2025. This NNPC petrol price increase sets costs at N925 per litre in Lagos and N950 per litre in Abuja. The adjustment reflects ongoing shifts within Nigeria’s fuel market.
Market Factors Drive Adjustment
The new prices represent a N65 rise from the previous N860 in Lagos. In Abuja, the price climbed N70 from N880. This NNPC petrol price increase follows similar moves by independent marketers. Industry sources suggest Dangote Refinery’s recent suspension of naira payments for petroleum products influenced the decision. Analysts confirm that changing supply costs and global oil price trends significantly impact Nigeria’s deregulated fuel sector.
Leadership Changes Coincide with Price Shift
This price revision occurs alongside leadership changes at the state oil company. President Bola Tinubu appointed Bayo Ojulari to lead NNPC, replacing Mele Kyari, as part of a wider board restructuring. Field reports indicate some NNPC stations initially displayed slightly different prices before settling on the official N925 in Lagos and N950 in Abuja. Logistical issues caused delays at some locations. NNPC’s pricing strategy has varied; prices were lowered in March before this latest NNPC petrol price increase, driven by global costs and exchange rate pressures.
