Information obtained by 9News Nigeria reveals that some Filling stations in Nigeria’s commercial capital city, Lagos, have increased the price of a litre of petrol from ₦860 to ₦930, making consumers pay at least ₦70 more than what it used to cost them to buy a litre of the premium commodity days ago.
9News Nigeria reports that the price increase has also become effective in parts of the country like Abuja and major northern cities with oil outlets now selling a litre of petrol between ₦950 to ₦970, depending on the filling stations. This represented a sharp increase of about ₦70 to ₦90 from the initial price of ₦880 last week.
Filling stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the Dangote Petroleum Refinery have adjusted their pumps to the new price.
Petrol stations like Matrix Energy, North-West Petroleum, Total Energies, Mobil, Bovas, Enyo, amongst others also followed suit.
The new price regime followed an announcement by Dangote Refinery temporarily halting the sale of petroleum products in Naira.
“This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in US dollars,” the company said in a statement earlier in March 2025.
The $20bn refinery based in Lagos said the sales of its products in Naira have exceeded the value of Naira-denominated crude it has received from the Nigerian National Petroleum Company Limited, NNPCL.
“As a result, we must temporarily adjust our sales currency to align with our crude procurement currency,” the company explained.
The refinery said it remained committed to serving the Nigerian market and would resume the sale of its product to the local market in Naira as soon as it received crude cargoes from the NNPCL in Naira.
