Where to buy cheapest fuel as price sells above N1,200/litre

• The NBS reported that the mean retail terms of petrol successful Nigeria roseate by 76.73% year-on-year to ₦1,239.33 successful April 2025, contempt a flimsy 1.77% alteration from the erstwhile period
• Imo State recorded the highest petrol prices, portion Yobe had the lowest, with determination variations showing the South East portion arsenic the astir expensive.
• Factors specified arsenic vigor prices, speech rates, proscription costs, and information concerns proceed to power ostentation perceptions, according to the Central Bank of Nigeria’s latest survey

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The astir caller Premium Motor Spirit (Petrol) Price Watch, published by the National Bureau of Statistics (NBS) connected Wednesday, shows that the mean retail terms paid by customers for Premium Motor Spirit (PMS), oregon gasoline, accrued to N1,239.33 successful April 2025.

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Source: Getty Images

The NBS probe indicates that, contempt caller measures to stabilise the downstream petroleum industry, fuel prices proceed to fluctuate crossed antithetic regions.

Compared to the N701.24 reported successful April 2024, this emergence represents a 76.73% year-on-year increase.

However, the mean terms decreased by 1.77% month-on-month, down from N1,261.65 successful March 2025.

States with highest and cheapest fuel

At the authorities level, Imo State recorded the highest mean retail terms for PMS astatine N1,588.50. Jigawa and Sokoto States followed successful 2nd and 3rd place, astatine N1,567.84 and N1,550.00 respectively.

The lowest mean terms was N970.00 successful Yobe State, followed by N1,014.85 successful Kwara and N1,042.49 successful Osun States.

ChannelsTV reported that currently, petrol costs astir N935 per litre successful Abuja and N880 per litre successful Lagos astatine retail.

According to the report, the South East portion had the highest mean terms astatine N1,341.71, portion the South West had the lowest mean astatine N1,138.64.

Here is simply a breakdown of zonal averages:

North Central: N1,242.94

South South: N1,222.54

North East: N1,166.27

South West: N1,138.64

South East: N1,341.71

North West: N1,325.90

This follows Dangote Refinery’s simplification of the ex-depot terms of gasoline to N835 per litre successful mid-April — its 2nd terms chopped successful arsenic galore weeks. Similar pricing trends were seen successful Abuja and Lagos, wherever the refinery supplied gasoline astatine N890 per litre, down from N920.

Businesses and households cited speech rates, proscription costs, energy prices, involvement rates, and information concerns arsenic the apical 5 factors influencing ostentation cognition successful April 2025, according to the Central Bank of Nigeria’s (CBN) astir caller Inflation Expectation Survey Report.

The study recovered that vigor prices — including those for gasoline, diesel, and energy — had the top interaction on inflation perception, with 91% of respondents citing it arsenic a large factor. Throughout April, petrol prices varied betwixt N870 and N920 per litre.

Marketers take Togo way for substance imports

Legit.ng reported that Marketers spent astir N120 cardinal ferrying 3.51 cardinal tonnes of substance to Lagos depots from Lome Port betwixt January and April 2025.

The inclination to import substance from Lome Port was owed to fiscal incentives to trim taxation and proceed purchases successful dollars, arsenic the Nigerian authorities is present pushing for naira transactions.

Investigations uncover that importers brought successful 23,600 tonnes of petroleum products regular successful January, 35,485.19 successful February, 29,602.27 successful March, and 939.585 successful April 2025.

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Source: Legit.ng