As a direct consequence of the recent suspension of naira-based petroleum sales by Dangote Refinery, MRS filling stations have increased pump prices to N930 per litre in Lagos and N960 in northern states, marking a significant hike in fuel costs across Nigeria.
The new pricing, effective from March 28, 2025, reflects a N70-N80 increase from previous rates. Other major marketers, including NIPCO, have followed suit, selling at similar rates in Ogun and other states.
Regional Breakdown of New Fuel Prices:
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Lagos: N930 per litre
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South-West & Kwara: N940 per litre
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South-South & South-East: N960 per litre
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North (Abuja, Kaduna, Kogi, Sokoto, Kebbi, etc.): N950 per litre
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Far North (Zamfara, Kano, Adamawa, Borno, etc.): N960 per litre
The price surge follows NNPC’s crude allocation challenges, which forced Dangote Refinery to halt its naira-for-crude supply. This, in turn, led to private depot owners hiking fuel importation costs, worsening market conditions.
Possible Economic Impact:
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Increased transportation costs
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Rising prices of goods and services
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Fuel scarcity in some regions
Experts predict that prices may stabilize once Dangote Refinery resumes selling fuel in naira—if it secures crude supply from NNPC. Until then, Nigerians must brace for higher costs at the pump.