NNPC has raised petrol prices to N950/litre in Abuja and N925/litre in Lagos, marking a significant hike. The move follows Dangote Refinery’s halt of sales in naira and ongoing negotiations for a new naira-for-crude deal. Commuters and residents express concerns over rising fuel costs in Nigeria.
The Nigerian National Petroleum Company (NNPC) has announced a hike in the price of petrol, with rates now set at N950 per litre in Abuja and N925 per litre in Lagos. This increase comes after the previous price of N880 in Abuja and N860 in Lagos.
At one of the NNPC retail stations in Federal Housing, Kubwa, Abuja, the price adjustment was evident, with the cost per litre increasing by N70. In Lagos, the fuel price surged by N65 at locations such as Ago Palace Way and Second Rainbow. The timing of the price hikes aligns with the recent suspension of the naira-for-crude sales agreement by Dangote Refinery. This move comes amid unresolved discussions about a new agreement to facilitate the sale of petroleum products in naira.
The original naira-for-crude initiative, which started in October 2024, was designed to reduce Nigeria’s dependence on imported refined petroleum and minimize fuel price volatility. However, as reported in March 2025, the deal was temporarily halted after NNPC’s forward sale of crude oil left them unable to fulfill the terms of the agreement.
NNPC has assured the public that talks for a revised deal are continuing with Dangote Refinery. With the expiration of the existing contract in March, the country now faces uncertainty about how fuel pricing will be managed in the coming months.
