The National Bureau of Statistics (NBS) has disclosed that the average price paid for the purchase of Premium Moter Spirit (PMS), popularly called Petrol in April 2025 decreased by 1.77% to N1239.33, relative to the N1261.65 paid for the product in the month of March 2025.
This data was contained in the PMS Price Watch Report for April 2025, released by the Bureau on Wednesday.
The decline in the price of PMS is attributable to the price reduction announced by both the Nigerian National Petroleum Company Limited (NNPC Ltd), and Dangote Petroleum Refinery in April 2025.
In April, NNPC reduced the pump price of PMS at its filling stations in Lagos and Abuja, to as low as N880 per litre in Lagos and N935 per litre in Abuja -a N45 drop from the previous price of N925 per litre in Lagos, and a N15 drop from the previous price of N950 per litre in Abuja.
Also in the same month, precisely April 16, 2025, the Dangote Petroleum Refinery announced reduction in the gantry price of PMS from N865 to N835 per litre, the second in the month.
The reduction was intended to provide the much-needed relief to consumers, and contribute to broader economic growth.
Meanwhile, the average retail price of N1239.33 paid by the consumers for April 2025, was 76.73% higher that the N701.24 paid for the product in 2024.
On State profile analysis, Imo State had the highest average retail price for Premium Motor Spirit (Petrol), at N1588.50, Jigawa and Sokoto States were next, with N1567.84, and 1550.00, respectively.
Conversely, Yobe, Kwara and Osun State had the lowest average retail prices for Premium Motor Spirit (Petrol), at N970.00, N1014.85, and N1042.49 respectively.
Lastly, on the Zonal profile, the South East Zone had the highest average retail price of N1341.71, while the South West Zone had the lowest price of N1138.64.
