The Nigerian National Petroleum Company Limited (NNPCL) has adjusted the pump prices of Premium Motor Spirit (PMS), popularly known as petrol, following a recent review of wholesale prices by the Dangote Refinery.
The latest adjustment has created different petrol prices across various parts of Nigeria, with motorists in northern states paying more than consumers in Lagos.
NNPCL Petrol Prices Across Nigeria
Petrol is currently being sold at approximately:
- Lagos: ₦1,385 per litre
- Abuja: ₦1,430 per litre
- Yobe: Up to ₦1,456 per litre
The price differences reflect the impact of transportation, distribution and other logistics costs under Nigeria’s deregulated downstream petroleum market.
Why Petrol Prices Differ Across States
The variation in pump prices is largely linked to the cost of moving petrol from coastal refining and storage facilities to different parts of the country.
Lagos enjoys closer proximity to major petroleum infrastructure, helping to reduce transportation and distribution expenses compared with more distant northern locations.
Dangote Refinery Price Review Triggers Fresh Adjustment
The latest movement in petrol prices follows the Dangote Refinery’s review of its wholesale gantry prices.
NNPCL and other petroleum marketers have subsequently adjusted their prices in response to changing market conditions.
Industry pricing continues to be influenced by several factors, including crude oil prices, refining costs, exchange-rate movements, transportation expenses and supply conditions.
More Petrol Price Changes Possible
With Nigeria’s downstream petroleum sector operating under deregulation, pump prices can continue to change as market conditions evolve.
Motorists may therefore see further adjustments depending on movements in crude oil prices, refinery output, supply levels, logistics costs and other operating expenses.