Onome Amuge
The average pump price of Premium Motor Spirit (PMS), commonly known as petrol, rose 76.73 per cent year-on-year to N1,239.33 per litre in April 2025, according to the latest data from the National Bureau of Statistics (NBS). This marks a substantial increase from the N701.24 recorded in April 2024, underscoring the persistent volatility in Nigeria’s downstream petroleum market since the removal of fuel subsidies.
Despite this sharp annual increase, the NBS report, titled “Premium Motor Spirit (petrol) Price Watch (April 2025),” also noted a slight month-on-month decrease. Average petrol prices dipped by 1.77 per cent in April compared to March 2025, when the average stood at N1,261.65.
A state-by-state analysis revealed considerable regional disparities in petrol prices. Imo State recorded the highest average price at N1,588.50 per litre, followed by Jigawa at N1,567.84 and Sokoto at N1,550.00. In contrast, Yobe State reported the lowest price at N970.00, with Kwara and Osun states close behind at N1,014.85 and N1,042.49, respectively.
Zonal data further highlighted these variations, with the South-East registering the highest average price at N1,341.71, while the South-West enjoyed the lowest at N1,138.64. Other regional averages included the North-West (N1,325.90), North-Central (N1,242.94), South-South (N1,222.54), and North-East (N1,166.27).
The continued instability in fuel prices comes despite recent interventions by local refiners and the Nigerian National Petroleum Company Limited (NNPCL). Mid-April saw the Dangote Refinery reduce its ex-depot price to N835 per litre, while NNPCL also adjusted prices downwards across its outlets, selling at approximately N910 in Abuja. However, these adjustments have yet to bring sustained stability to the broader market.
The fluctuating petrol prices are seen contributing to broader inflationary pressures across the Nigerian economy. The Central Bank of Nigeria’s (CBN) April 2025 Inflation Expectation Survey identified energy prices, including petrol, as the biggest driver of inflation perception, with 91 per cent of respondents citing it as a major concern. Furthermore, transportation costs, directly impacted by higher fuel prices, were the third most mentioned inflation driver, with 86.7 per cent of respondents highlighting rising travel and logistics expenses.
Meanwhile, in a new development, the Dangote Petroleum Refinery has announced a fresh reduction in its petrol pump prices across Nigeria, with retail rates now ranging from N875 to N905 per litre, depending on the location. The latest adjustment follows a series of previous price and ex-depot rate cuts, marking a significant intervention in the country’s volatile downstream petroleum market.
Dangote Refinery confirmed that these updated retail prices are effective at the pumps of its extensive network of distribution partners nationwide. These partners include major players such as MRS, Ardova Plc (AP), Heyden, Optima Energy, TechnoOil, and Hyde.
Under the revised pricing structure, petrol will now retail for N875 per litre in Lagos. The South-West region sees a marginally higher price of N885. Northern regions exhibit further variation, with prices set at N895 in the North-West and North-Central, and N905 in the North-East. The South-South and South-East zones will also maintain a uniform price of N905 per litre.
The refinery urged consumers to report any instances of non-compliance to dedicated hotlines, reaffirming its commitment to ensuring the availability of quality and affordable fuel across the country.
