Fuel Price Crosses N1,000/Litre, Report Shows Where to Buy Cheaper

• The NBS reported that the average retail price of petrol in Nigeria rose by 76.73% year-on-year to ₦1,239.33 in April 2025, despite a slight 1.77% decrease from the previous month
• Imo State recorded the highest petrol prices, while Yobe had the lowest, with regional variations showing the South East zone as the most expensive.
• Factors such as energy prices, exchange rates, transportation costs, and security concerns continue to influence inflation perceptions, according to the Central Bank of Nigeria’s latest survey

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The most recent Premium Motor Spirit (Petrol) Price Watch, published by the National Bureau of Statistics (NBS) on Wednesday, shows that the average retail price paid by customers for Premium Motor Spirit (PMS), or gasoline, increased to N1,239.33 in April 2025.

The NBS research indicates that, despite recent measures to stabilise the downstream petroleum industry, fuel prices continue to fluctuate across different regions.

Compared to the N701.24 reported in April 2024, this rise represents a 76.73% year-on-year increase.

However, the average price decreased by 1.77% month-on-month, down from N1,261.65 in March 2025.

States with highest and cheapest fuel

At the state level, Imo State recorded the highest average retail price for PMS at N1,588.50. Jigawa and Sokoto States followed in second and third place, at N1,567.84 and N1,550.00 respectively.

The lowest average price was N970.00 in Yobe State, followed by N1,014.85 in Kwara and N1,042.49 in Osun States.

ChannelsTV reported that currently, petrol costs about N935 per litre in Abuja and N880 per litre in Lagos at retail.

According to the report, the South East zone had the highest average price at N1,341.71, while the South West had the lowest average at N1,138.64.

Here is a breakdown of zonal averages:

North Central: N1,242.94

South South: N1,222.54

North East: N1,166.27

South West: N1,138.64

South East: N1,341.71

North West: N1,325.90

This follows Dangote Refinery’s reduction of the ex-depot price of gasoline to N835 per litre in mid-April — its second price cut in as many weeks. Similar pricing trends were seen in Abuja and Lagos, where the refinery supplied gasoline at N890 per litre, down from N920.

Businesses and households cited exchange rates, transportation costs, energy prices, interest rates, and security concerns as the top five factors influencing inflation perception in April 2025, according to the Central Bank of Nigeria’s (CBN) most recent Inflation Expectation Survey Report.

The report found that energy prices — including those for gasoline, diesel, and electricity — had the greatest impact on inflation perception, with 91% of respondents citing it as a major factor. Throughout April, petrol prices varied between N870 and N920 per litre.

Marketers choose Togo route for fuel imports

Legit.ng reported that Marketers spent about N120 billion ferrying 3.51 million tonnes of fuel to Lagos depots from Lome Port between January and April 2025.

The trend to import fuel from Lome Port was due to financial incentives to reduce tax and continue purchases in dollars, as the Nigerian government is now pushing for naira transactions.

Investigations reveal that importers brought in 23,600 tonnes of petroleum products daily in January, 35,485.19 in February, 29,602.27 in March, and 939.585 in April 2025.

Source: Legit.ng