The average price of petrol in Nigeria rose to ₦1,239.33 in April 2025, a sharp 76.73% increase compared to ₦701.24 in April 2024, according to the National Bureau of Statistics (NBS).
The report, released Wednesday, May 21, revealed that despite a slight month-on-month drop of 1.77% from ₦1,261.65 in March, fuel costs remain highly volatile across the country.
Imo State recorded the highest average price at ₦1,588.50 per litre, followed by Jigawa at ₦1,567.84 and Sokoto at ₦1,550.00.
Yobe had the lowest average price at ₦970.00, with Kwara and Osun trailing at ₦1,014.85 and ₦1,042.49 respectively.
In major cities, petrol sold for about ₦935 per litre in Abuja and ₦880 in Lagos.
By region, the South East topped the chart with an average of ₦1,341.71, followed by the North West at ₦1,325.90 and North Central at ₦1,242.94. The South West recorded the lowest zonal average at ₦1,138.64.
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The spike in prices persisted despite the Dangote Refinery cutting its ex-depot petrol price to ₦835 per litre in mid-April, its second reduction in a week. The refinery sold at ₦890 per litre in Lagos, down from ₦920, with similar rates observed in Abuja.
Meanwhile, the Central Bank of Nigeria’s Inflation Expectation Survey showed that 91% of respondents cited energy prices, including petrol, diesel, and electricity, as the most significant drivers of inflation.
Transportation costs also ranked high, with 86.7% of respondents naming it a key factor influencing inflation.
Petrol prices fluctuated between ₦870 and ₦920 throughout April.
The latest NBS inflation data showed a slight drop in the annual rate to 23.71% in April, down from 24.23% in March. Month-on-month inflation also slowed to 1.86% in April from 3.90% in March, suggesting a tentative path towards economic stability.
The rise in fuel costs follows the federal government’s removal of subsidies in May 2023, a move that triggered widespread price increases and inflationary pressure.