CITIZENS COMPASS– The pump price of Premium Motor Spirit (PMS) has reportedly soared putting the new price between N930 and N970 per litre.
Residents said the new price resurfaced Lagos, Ogun, and Abuja and was greeted with panic amidst the 2025 Eid-El-Fitri celebration.
According to reports from BusinessDay, several gas stations in Lagos adjusted their petrol prices on Sunday morning from the previous rate of N865 per litre to between N930 and N970. This sharp increase was also reflected in the depot price, which now stands between N890 and N900 per litre—up from below N850 per litre just two weeks ago.
The price hike comes amid concerns from oil marketers, who recently disclosed that the landing cost of imported petrol had surged by N88 per litre within a week, coinciding with an increase in import volumes.
Checks confirmed that an AP filling station on Admiralty Road, Lekki Phase 1, was selling petrol at N930 per litre, with other outlets in Lagos pricing it between N930 and N935. Similarly, stations in Abuja and Magboro, Ogun State, have adjusted their prices to between N960 and N970 per litre.
This marks the first petrol price hike in 2025 after a brief period of price reductions earlier in the year, following increased competition between the Nigerian National Petroleum Company (NNPC) Limited and Dangote Refinery.
As Nigerians brace for the economic impact of the new pricing, concerns continue to mount over the volatility of fuel costs and the potential ripple effects on transportation, goods, and services.
—G-W-G
