Nigeria’s National Bureau of Statistics says fuel prices rose sharply in April, underscoring the impact of global energy disruptions on Africa’s largest economy. The average retail price of petrol climbed to N1,532.93 per litre, up 18.97 percent from N1,288.54 in March. Compared with April 2025, when petrol averaged N1,239.33, prices were 23.69 percent higher.
State data showed Yobe recorded the highest petrol price at N1,599.05 per litre, followed by Edo and Bauchi. Niger, Sokoto, and Katsina posted the lowest averages. Regionally, the South‑South zone had the highest average at N1,566.76, while the North‑West recorded the lowest at N1,508.81.
Diesel prices surged even more dramatically. The average retail price jumped from N1,648.06 in March to N2,474.69 in April, a 50.16 percent increase. Year‑on‑year, diesel prices rose 43.67 percent from N1,722.45 in April 2025. Nasarawa posted the highest diesel price at N2,818.94 per litre, followed by Ebonyi and Taraba. The North‑East recorded the highest regional average at N2,603, while the North‑West had the lowest at N2,409.34.
Analysts say the spike is linked to geopolitical tensions in the Middle East, where the closure of the Strait of Hormuz has disrupted global energy supplies and driven Brent crude prices higher. The ripple effects have intensified fuel costs across Nigeria, adding pressure to households and businesses already grappling with inflation.
Economists warn that sustained instability in global oil markets could keep prices elevated, complicating Nigeria’s efforts to stabilize its economy. Rising transport and production costs are expected to feed into higher consumer prices, with ripple effects across food, manufacturing, and logistics.
The latest figures highlight the vulnerability of Nigeria’s economy to external shocks, even as policymakers seek to balance subsidy removal with measures to cushion citizens. Experts argue that diversifying energy sources and strengthening domestic refining capacity will be critical to reducing exposure to global volatility.
