Nigeria Records 33% Rise in Fuel Price for July – NBS

The average pump price of Premium Motor Spirit (PMS), commonly known as petrol, rose by 33.02 percent year-on-year to N1,024.99 in July 2025, compared to the corresponding period in 2024, according to the National Bureau of Statistics (NBS).

On a month-to-month comparison, the report showed a slight decline of 1.22 percent, as the average retail price dropped from N1,037.66 per litre in June 2025.

The NBS Petrol Price Watch for July 2025 revealed that Jigawa State recorded the highest average price at N1,107.52 per litre, followed closely by Lagos at N1,100.29 and Sokoto at N1,100.00. On the other hand, Zamfara (N884.63), Yobe (N950.60), and Kogi (N986.67) had the lowest pump prices during the period.

From a zonal perspective, the North West posted the highest average retail cost at N1,035.85, while the North East recorded the lowest at N1,017.65.

Further checks by Vanguard indicated that the ongoing decline in crude oil prices has also driven down petrol prices in some markets. Data from the global oil price tracker showed crude trading at $63.55 per barrel, with Brent crude at $67.69 per barrel.

As of yesterday, retail prices in Lagos ranged between N865 and N875 per litre, while in the Federal Capital Territory, Abuja, prices stood between N890 and N910 per litre.