The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol to N915 per litre in Lagos and Abuja, reflecting a 6.4% rise from the previous N860 per litre in March 2025.
This adjustment comes as global crude oil prices surge, further tightening Nigeria’s post-subsidy fuel market.
Industry sources attribute the hike to depot price adjustments by the Dangote Refinery, which raised rates due to higher crude costs and naira volatility.
In response, NNPC adjusted its pricing to remain competitive and mitigate losses. Major distributor
MRS Oil Nigeria Plc also increased prices, selling petrol at N925 in Lagos and up to N955 in the Southeast.
Analysts linked the surge to geopolitical tensions, including Iran’s threat to close the Strait of Hormuz, which briefly pushed oil to \$78 per barrel. “If tensions escalate, global prices could near \$150.
The weaker naira has further strained fuel import costs, underscoring the need for local refining growth.
Analysts stressed that sustained investment in domestic production and forex stability are critical to shielding consumers from future price shocks in Nigeria’s deregulated market.
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.
Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.
He had done many courses in communication, including the EU-BBC Editing Course in 2002.
Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).
He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.
He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.
Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.
