Nigerians saw some relief at the pump in November 2025, as the average retail price for petrol dropped to N1,061.35 per litre, according to the latest report from the National Bureau of Statistics (NBS).
This marks a significant 12.59% decrease compared to the N1,214.17 average price recorded in November 2024, though the price did inch up slightly by 0.86% from the N1,052.31 paid in October 2025.
The drop comes as Nigeria’s daily petrol supply skyrocketed by a massive 55% in November, jumping to 71.5 million litres per day from 46 million in October, a move intended to build inventory ahead of the holidays.
The data reveals a country with two very different pricing realities, highlighting persistent regional disparities.
Borno State residents paid the highest average price at N1,133.86, with Sokoto (N1,118.83) and Kogi (N1,111.00) following closely behind.
Meanwhile, drivers in Oyo State enjoyed the lowest prices at N997.39 per litre.
On a zonal level, the North East had the highest average price at N1,084.04, while the South West had the lowest at N1,036.12.
This mixed pricing environment exists even as supply has dramatically increased.
According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the surge in supply was driven by increased imports from the NNPC and 17.1 million litres per day from domestic refineries, although all state-owned refineries remained offline. National consumption also rose by 44.5% to 52.1 million litres per day, but supply still outpaced demand.
Experts suggest that factors like logistical challenges, exchange rate fluctuations, and distribution costs continue to create price volatility and the significant gaps seen between states, even with the downstream sector’s deregulation.
In a move aimed at boosting local production, the Dangote Group has also pledged to supply 1.5 billion litres of petrol monthly from its refinery.
