This move comes as the Nigerian National Petroleum Company Limited (NNPCL) raised its depot price to N900 per litre from N850 per litre, according to Vanguard’s findings on October 14, 2025.

Olatide Jeremiah, CEO of Petroleumprice.ng, noted that depot prices have climbed steadily, with petrol sold between N870 and N900 per litre at major depots in Lagos and Calabar. 

In Lagos, private depots like Aiteo, Pinnacle, and Integrated Oil and Gas priced PMS at N890, N870, and N870 per litre, respectively. 

In Calabar, Matrix Energy and Northwest Petroleum sold at N890 and N880 per litre, while Sobaz Depot reached N900 per litre, the highest this month.

Jeremiah suggested that the ongoing rehabilitation of the 650,000-barrels-per-day Dangote Refinery could stabilize domestic prices once completed, given its capacity to flood the market with locally refined fuel.

Despite these efforts, retail petrol prices surged by 6.8%, rising from N890 to N955 per litre. In Lagos and Abuja, NNPCL and independent marketers’ stations dispensed fuel between N900 and N955 per litre. 

In Abuja, Adova Plc increased prices from N899 to N945 per litre, while AYM Sharfa raised theirs from N910 to N955 per litre. 

Some independent outlets, like RYBN Station along Nyanya-Karshi Road, hiked prices by N70, selling at N997 per litre, up from N920.A motorist, John Ogaba, expressed frustration at AYM Station in Karu, noting that hopes for lower prices due to Dangote’s direct CNG-truck deliveries have been dashed. 

“Stations were selling below N900 when Dangote announced cost-saving logistics with CNG trucks. Why are prices still rising?” he questioned.