After initial hesitation, the Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of petrol to ₦925 per litre at its retail stations in Lagos and ₦950 per litre in Abuja.
According to The PUNCH, the new price regime, effective from April 2, 2025, represents an increase of ₦65 from the previous price of ₦860 per litre in Lagos and an ₦70 difference from the ₦880 previously sold in the North.
Recall that last week, MRS and other independent marketers increased the price of petrol, raising its pump price to ₦930 per litre in Lagos and ₦960 for residents living in the northern part of the country.
Industry experts said the new increase is a direct fallout of the recent suspension of sales of petroleum products in naira by the Dangote refinery.
This adjustment reflects ongoing changes in Nigeria’s deregulated fuel market and follows shifts in market competition, supply costs, and global oil price trends.
The development also comes against the backdrop of a new leadership at the national oil firm. President Bola Tinubu appointed Mr Bayo Ojulari to replace Mele Kyari in the early hours of Wednesday while also restructuring the NNPCL board.
Our correspondent confirmed that NNPC stations along the Lagos-Ibadan Expressway and Ikorodu Road now sell at ₦925 per litre, after initially displaying ₦930 per litre to its customers.
