Petrol Prices Rise by 33.02% Year-on-Year, Hitting ₦1,024.99
Data from the National Bureau of Statistics (NBS) Petrol Prices Watch for July 2025 shows that the average retail price of petrol rose by 33.02% compared to the same month in 2024, reaching ₦1,024.99 from ₦770.54. On a month-to-month basis, however, petrol prices dropped slightly by 1.22% from June 2025 levels. Despite this minor decrease, the report underscores the persistent financial strain on Nigerians, as higher fuel prices continue to drive up transportation expenses and contribute to widespread inflation in goods and services.
State-level analysis reveals considerable price variations across the country. Jigawa State recorded the highest average petrol price at ₦1,107.52, followed closely by Lagos at ₦1,100.29 and Sokoto at ₦1,100—each exceeding the national average. In contrast, Zamfara, Yobe, and Kogi States posted the lowest average prices at ₦884.63, ₦950.60, and ₦986.67, respectively. These disparities highlight persistent structural challenges in Nigeria’s fuel distribution network, supply logistics, and market regulation.
To mitigate the adverse effects of escalating fuel costs on consumers and businesses, the government should focus on strengthening local refining capacity, improving fuel distribution efficiency, and upgrading transportation infrastructure. Implementing these measures could help lower logistics costs, stabilize fuel prices, and ease the overall inflationary burden on the economy.
