The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of petrol to N915 per litre in Lagos and Abuja as global crude oil prices continue to rise. The increase, implemented on Monday, marks a 6.4 per centt.
On Monday it was observed that the price of the product increased to N915 at some NNPC filling stations in Lagos. The latest increase marks a 6.4 per cent jump from the N860 per litre that NNPC briefly offered in March 2025.
This latest price hike is part of Nigeria’s broader post-subsidy regime, where market forces – including global oil prices and naira exchange rates – now determine the cost of Premium Motor Spirit (PMS).
Industry sources link the change to adjustments in depot prices by the Dangote Refinery, which raised its own rates due to higher crude costs and exchange rate volatility. NNPC’s move appears aimed at staying competitive and minimising operational losses.
MRS Oil Nigeria Plc, a major distributor of Dangote products, also increased its petrol price over the weekend, from N885 to N925 in Lagos and as high as N955 in the Southeast.