By Ayomide Otitoju
Consumers paid an average of ₦1,061 per litre for Premium Motor Spirit (PMS), also known as petrol, in November 2025, according to the latest Premium Motor Spirit (Petrol) Price Watch report released by the National Bureau of Statistics (NBS).
The report showed that the average price represented a 12.59 per cent decline from ₦1,214.17 recorded in November 2024. However, prices rose marginally by 0.86 per cent compared to ₦1,052.31 in October 2025, reflecting continued month-on-month volatility in fuel pricing.
State-level data revealed significant regional disparities, with Borno State recording the highest average retail price at ₦1,133.86 per litre, followed by Sokoto at ₦1,118.83 and Kogi at ₦1,111.00. In contrast, Oyo State posted the lowest average price at ₦997.39, while Nasarawa and Lagos recorded ₦1,015.12 and ₦1,021.14, respectively.
Zonal analysis indicated that the North East had the highest average petrol price at ₦1,084.04 per litre, while the South West recorded the lowest at ₦1,036.12.
Meanwhile, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reported a significant increase in petrol supply during the month. According to its November 2025 fact sheet released on Monday, daily petrol supply rose to 71.5 million litres in November from 46 million litres per day in October.
The authority also noted that national consumption increased by 44.5 per cent to 52.1 million litres per day in November, compared to 28.9 million litres in October, resulting in an excess supply of 37.4 million litres. Domestic refineries accounted for 17.1 million litres per day during the period, while average daily PMS consumption stood at 52.9 million litres, the NMDPRA said.
