NNPCL increases petrol price to N925/litre

The Nigerian National Petroleum Company Limited has announced the upward review of the official pump price of Premium Motor Spirit (PMS), popularly known as petrol nationwide.

According to the state owned company, the product will now be sold at N925 per litre at its retail stations in Lagos and N950 per litre in Abuja.

The new price regime, effective from April 2, 2025, represents an increase of N65 from the previous price of N860 per litre in Lagos and an N70 difference from the N880 previously sold in the North.

This adjustment comes after months of price competition. In March 2025, NNPC reduced its price to N860 per litre to match Dangote Refinery’s lower rates. 

However, due to rising global oil prices, exchange rate fluctuations, and changes in crude oil sourcing costs, NNPC has now revised prices upward.

Recall that last week, MRS and other independent marketers increased the price of petrol, raising its pump price to N930 per litre in Lagos and N960 for residents living in the northern part of the country.