Rising Premium Motor Spirit (PMS) prices have breached the N1,500 per litre mark across major regions in Nigeria, triggering widespread economic strain for commuters, transport operators, and small businesses.
The sharp increase, driven by sustained rallies in global crude oil prices, Middle Eastern geopolitical risks, and recent ex-gantry price adjustments by major domestic refiners, has led key industry stakeholders to demand the immediate reactivation of state-owned refineries to expand domestic supply and stabilize pump prices. ​
Speaking at a media briefing in Abuja, Dr. Joseph Obele, National Public Relations Officer of the Petroleum Products Retail Outlets Association of Nigeria (PETROAN) and a prominent energy scholar, urged the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to fast-track operational readiness at public refining facilities. ​
“The immediate and most practical solution to this ongoing price surge is to restore functional production at state-owned refineries, specifically the Port Harcourt and Warri assets,” Dr. Obele stated. “Relying solely on external imports or limited domestic channels leaves our domestic market vulnerable to international crude fluctuations.
Bringing state-owned facilities back online will build supply buffers, foster market competition, and provide measurable price moderation for Nigerians.” ​The intervention follows recent price movements where retail petrol climbed to between N1,450 and N1,500 per litre across several northern and central states, including Kano, Sokoto, Taraba, Yobe, and Zamfara—while urban centers like Lagos and Port Harcourt recorded retail prices ranging between N1,350 and N1,400 per litre.
​The pricing surge has forced transport unions and commercial operators nationwide to adjust commuter fares, with short intra-city routes rising by up to 50%. Logistics providers and daily wage workers report significant operational squeezed margins, warning that elevated fuel prices are feeding directly into food logistics and everyday consumer costs. ​
Organized labor groups have also sounded alarms over the inflationary pressure. In a statement issued in Abuja, the Nigeria Labour Congress (NLC), led by its President, Joe Ajaero, highlighted that widespread price hikes are placing an unbearable burden on average working households, calling for swift federal intervention to expand local refining capacity and mitigate structural energy inflation.
​Responding to growing public concern, representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reaffirmed at a briefing that under the provisions of the Petroleum Industry Act (PIA) 2021, retail pump prices remain fully deregulated and subject to market-driven supply and demand dynamics. ​
While recent price cuts of N25 per litre at domestic private facilities like the Dangote Petroleum Refinery have offered minor relief to depot operators, industry observers emphasize that a fully diversified domestic refining landscape, including functional NNPCL assets in Port Harcourt and Warri—remains the most durable pathway toward long-term price stability and national energy security.
