Petrol price drops to 1061 per litre in November

Consumers in Nigeria paid an average of 1,061 per liter for petrol in November 2025, according to the National Bureau of Statistics (NBS). This represents a 12.59% decline from the 1,214.17 recorded in November 2024. However, the price rose slightly by 0.86% from October 2025’s 1,052.31, indicating ongoing month-to-month fluctuations. The NBS’s Premium Motor Spirit (Petrol) Price Watch report revealed regional disparities in petrol pricing, with Borno State recording the highest average retail price at 1,133.86, followed by Sokoto and Kogi States. In contrast, Oyo State had the lowest price at 997.39, while Nasarawa and Lagos States posted 1,015.12 and 1,021.14, respectively. A zonal analysis showed that the North East region recorded the highest average petrol price at 1,084.04, while the South West had the lowest at 1,036.12. These disparities highlight the need for continued monitoring of petrol prices across the country. In related news, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reported that petrol supply increased to 71.5 million liters per day in November 2025, up from 46 million liters per day in October. The nation’s consumption also increased by 44.5% to 52.1 million liters per day in November 2025, against 28.9 million liters in October. Domestic refineries supplied 17.1 million liters per day during the period, while the average daily consumption of PMS for the month was 52.9 million liters per day, according to NMDPRA data. The increase in petrol supply and consumption is a positive development for the country’s energy sector. The NBS and NMDPRA reports provide insight into the current state of Nigeria’s petrol market, highlighting the need for continued efforts to stabilize prices and increase supply. As the country’s energy sector continues to evolve, it is essential to monitor these trends and adjust policies accordingly to ensure a stable and efficient energy market.