NBS Report Sparks Outrage – Why Nigerians Pay More For Petrol Despite Global Price Drop

The National Bureau of Statistics (NBS) has disclosed that the average retail price of Premium Motor Spirit (PMS), commonly called petrol, surged by 33.02% year-on-year, hitting ₦1,024.99 per litre in July 2025, compared to the same period in 2024.....KINDLY READ THE FULL STORY HERE▶

However, on a month-to-month basis, the data reflected a slight drop as petrol prices fell by 1.22% from ₦1,037.66 per litre in June 2025.

According to the NBS “Petrol Price Watch” for July, Jigawa State recorded the highest average pump price nationwide at ₦1,107.52 per litre, followed by Lagos (₦1,100.29) and Sokoto (₦1,100.00). On the lower end, Zamfara residents paid the cheapest average at ₦884.63 per litre, with Yobe (₦950.60) and Kogi (₦986.67) trailing closely.

The zonal breakdown showed that the North West region recorded the highest average petrol price at ₦1,035.85 per litre, while the North East had the lowest at ₦1,017.65.

Meanwhile, checks revealed that the drop in global crude oil prices is beginning to reflect in the Nigerian market. As of Monday, crude traded at $63.55 per barrel, with Brent crude at $67.69. Pump prices in Lagos have since adjusted to between ₦865 and ₦875 per litre, while Abuja residents currently pay between ₦890 and ₦910.