According to the National Bureau of Statistics (NBS), the average retail price of premium motor spirit (PMS), commonly known as petrol, increased to N1,239.33 per litre in April 2025. The NBS report, titled ‘Premium Motor Spirit (Petrol) Price Watch (April 2025),’ which was released on April 20, indicated a 76.73 percent rise in pump price compared to N701.24 recorded in April of the previous year.

The bureau also noted a slight decrease of 1.77% when comparing the average price to the previous month (March 2025), when it was N1261.65.

In terms of state profiles, Imo state recorded the highest average retail price for petrol at N1,588.50, followed by Jigawa and Sokoto states with N1,567.84 and N1,550.00, respectively. Conversely, Yobe, Kwara, and Osun states had the lowest average retail prices for petrol, at N970.00, N1014.85, and N1042.49, respectively.

Zonal analysis revealed that the South East Zone had the highest average retail price at N1341.71, while the South West Zone had the lowest price at N1138.64.

On May 12, the Dangote refinery lowered its ex-depot petrol price to N825 per litre. Subsequently, on May 13, the Nigerian National Petroleum Company (NNPC) Limited also reduced the price of petrol across its retail outlets in Abuja.