The Nigerian National Petroleum Company Limited (NNPC) has increased the price of petrol to ₦925 per litre at its retail stations in Lagos. This adjustment, effective April 2, 2025, reflects ongoing changes in Nigeria’s deregulated fuel market.
The price hike from the previous ₦860 per litre in March follows shifts in market competition, supply costs, and global oil price trends. Reports from social media and market watchers confirm the adjustment, which affects key areas in Lagos.
Areas in Lagos Selling Petrol at ₦925/Litre
- Ikorodu: NNPC stations along the Lagos-Ibadan Expressway and Ikorodu Road now sell at ₦925 per litre, with some initially displaying ₦930 before adjusting.
- Fadeyi: Stations in this area have raised their pump prices to match the new rate.
- Ago Palace Way: Reports confirm that at least one NNPC outlet in this location has implemented the ₦925 per litre price.
- Ogba: The NNPC station on College Road has also adjusted its price to ₦925.
- Ikeja: Key outlets on Acme Road and Lagos-Abeokuta Expressway have switched to the new price.
However, not all NNPC stations in Lagos may have updated their prices at the same time due to logistical delays.
Why the Price Increased
This adjustment comes after months of price competition. In March 2025, NNPC reduced its price to ₦860 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.
Earlier in 2025, NNPC had sold petrol at ₦925 per litre in December 2024 before several price shifts. The current rate in Lagos is still lower than in some cities, like Abuja, where prices recently stood at ₦880 per litre.
Public Reaction and Economic Impact
Many Lagos residents have expressed frustration over the frequent price changes. Some social media users reported long queues at filling stations, with many rushing to buy fuel before further increases.
Higher petrol prices are expected to drive up transportation costs and goods prices in Lagos. Experts believe fuel prices may continue fluctuating in 2025 as market forces adjust to Nigeria’s new deregulated system.
NNPC Yet to Release a Statement
NNPC has not issued an official statement explaining the new price adjustment. Efforts to reach NNPC spokesperson Olufemi Soneye for comments have been unsuccessful. However, industry analysts suggest that NNPC’s pricing strategy is influenced by its dual role as a supplier and retailer, as well as competition with private refiners.
What to Expect Next
Fuel prices in Lagos and across Nigeria may keep changing due to global oil prices, exchange rates, and domestic refining capacity. The ongoing rivalry between NNPC and private refineries like Dangote may lead to further price shifts.
Lagos residents are advised to check specific NNPC stations in Ikorodu, Fadeyi, Ago Palace Way, Ogba, and Ikeja for the latest prices. The Nigerian fuel market remains highly unpredictable as it transitions fully into deregulation.
