The Nationwide Bureau of Statistics has revealed that the common pump value of Premium Motor Spirit, also referred to as petrol, surged by 76.73 per cent year-on-year to N1,239.33 per litre in April 2025.
This represents a pointy rise from N701.24 recorded in April 2024, highlighting the continued volatility within the downstream petroleum market following the removing of gasoline subsidies.
Nevertheless, in comparison with March 2025, when the common stood at N1,261.65, petrol costs dropped barely by 1.77 per cent. The figures are contained within the NBS report titled “Premium Motor Spirit (petrol) Value Watch (April 2025)”, launched on Wednesday.
A state-by-state breakdown confirmed that Imo recorded the best common value of N1,588.50 per litre, adopted by Jigawa at N1,567.84 and Sokoto at N1,550.00. In distinction, Yobe posted the bottom value at N970.00, whereas Kwara and Osun adopted with N1,014.85 and N1,042.49, respectively.
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Zonal evaluation revealed that the South-East had the best common value at N1,341.71, whereas the South-West recorded the bottom at N1,138.64. Different regional averages embrace North-West (N1,325.90), North-Central (N1,242.94), South-South (N1,222.54), and North-East (N1,166.27).
Regardless of current interventions by native refiners and the Nigerian Nationwide Petroleum Firm Restricted, gasoline costs have remained unstable. Mid-April noticed Dangote Refinery slash its ex-depot value to N835 per litre, whereas NNPCL additionally adjusted costs downward throughout its retailers, promoting at roughly N910 in Abuja.
The fluctuations in petrol pricing are feeding into broader inflationary pressures. The Central Financial institution of Nigeria, in its April 2025 Inflation Expectation Survey, recognized vitality costs—together with petrol—as the most important driver of inflation notion, with 91 per cent of respondents citing it as a serious concern.
Transportation prices, which have been straight affected by greater gasoline costs, had been the third most talked about inflation driver, with 86.7 per cent of respondents pointing to rising journey and logistics bills.
