Nigeria’s average petrol price fell 11% year-on-year in October 2025, even as fears of a fresh surge lingered over a now-suspended plan to introduce a new import duty, data from the National Bureau of Statistics (NBS) showed on Tuesday.
The report said the average price of a litre of petrol dropped to N1,052.31 in October from N1,184.83 in the same month last year. The NBS said this marks an 11.18% decrease, giving small relief to households and transport operators who have struggled with high living costs.
But month-on-month prices still rose. Compared with September’s N970.59, October’s price was 8.42% higher, reflecting pressure from supply costs and rising demand.
Kogi State recorded the highest average price at N1,110, followed by Sokoto at N1,105.93 and Borno at N1,101.63. Oyo paid the lowest at N1,001.79, with Nasarawa and Abia close behind at N1,009.38 and N1,012.50.
By zone, the North-East paid the highest average price at N1,072.74, while the South-West paid the lowest at N1,032.81.
The data comes weeks after President Bola Tinubu approved a 15% ad-valorem import duty on petrol and diesel. Experts warned that the policy, if enforced, could push pump prices up by almost N100 per litre, further straining Nigerians.
The plan sparked public concern until the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) suspended the directive. The regulator said it wanted to stabilise prices and ensure steady supply during the peak demand season.
In a statement, an NMDPRA official said: “We reassure Nigerians that there is adequate supply of petrol and diesel nationwide. The suspension is to prevent shocks while we engage stakeholders.”
The concerns come as local refining capacity continues to expand. The Dangote Petroleum Refinery backed the government’s import duty plan, arguing it would protect local production and discourage “dumping” of imported fuel. The company said it has the capacity to meet national needs, loading 45 million litres of petrol and 25 million litres of diesel daily.
Nigeria’s petrol consumption rose to 56.74 million litres per day in October, according to the NMDPRA, up from earlier months as travel and logistics demand increased.
Read also: Dangote Refinery to supply 1.5bn litres of petrol monthly from December
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