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

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6 months ago

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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▶

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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.

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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.

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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.

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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.

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