The Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in fuel pump prices in Lagos and Abuja.
Effective April 2, 2025, the new prices are N925 per litre in Lagos and N950 per litre in Abuja. This represents a N65 increase from the previous N860 per litre in Lagos, and a N70 increase from the prior N880 per litre in Abuja and the northern regions.
The NNPCL’s price adjustment comes shortly after some independent marketers, including MRS, raised their pump prices in Lagos and parts of the North.
Industry experts have offered differing views on the reasons behind the price hike. Some attribute it to the recent suspension of crude oil sales to Dangote Refinery in naira. Others link the price increase to the recent leadership changes at NNPCL initiated by President Bola Tinubu.
Reports from Lagos indicate that while not all stations have updated their meters, NNPCL outlets along the Lagos-Ibadan Expressway, as well as stations in Ikorodu, Fadeyi, Ago Palace Way, Ogba, College Road, and other areas in Ikeja, are already reflecting the new N925 per litre price.
In Abuja, NNPCL stations in areas such as Wuse, the Kubwa Expressway, and Jahi are displaying the adjusted price of N950 per litre.
The price increase is expected to have ripple effects across the economy, impacting transportation costs and potentially driving up the prices of goods and services.
