The average retail price paid by consumers for Premium Motor Spirit (Petrol) in July 2025 was ₦1024.99.
Contained in the July 2025 “Premium Motor Spirit (Petrol) Price Watch” released by the National Bureau of Statistics (NBS) on Thursday, the statistics showed the price decrease is 1.22% from ₦1,037.66 in June 2025.
On a year-on-year basis, this indicates a 33.02% increase compared to the value recorded in July 2024, which was at ₦770.54.
According to the NBS, Jigawa state had the highest average retail price for Premium Motor Spirit (Petrol), at ₦1107.52. Lagos and Sokoto states were next, with ₦1100.29 and ₦1100.00, respectively. Conversely, Zamfara, Yobe, and Kogi States had the lowest average retail prices for Premium Motor Spirit (Petrol), at ₦884.63, ₦950.60, and ₦986.67, respectively.
The report demonstrates the continued volatility in fuel prices across the country, despite recent efforts to stabilise the downstream petroleum sector, the NBS noted.
According to NBS, the North-West zone had the highest average retail price of ₦1035.85, while the Northeast Zone had the lowest price of ₦1017.65.
The average price of petrol rose to ₦1,037.66 in June 2025, marking a 38.32% year-on-year increase from ₦750.17 recorded in June 2024.
On a month-on-month basis, the price rose by 0.96% from ₦1,027.76 in May 2025.
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Inflation Rose Slightly To 21.88 Per cent
NBS reports that Nigeria’s headline inflation rate slowed slightly to 21.88% in July 2025, marking a modest retreat from the previous month’s figure of 22.22%.
The statistics show that, on a year-on-year basis, headline inflation rate was 11.52% lower than the rate recorded in July 2024, which was at 33.40%.
On a month-on-month basis, the headline inflation rate in July 2025 was 1.99%, which was 0.31% higher than the rate recorded in June 2025, which was 1.68%.
According to the NBS, this means that in July 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in June 2025.
The percentage change in the average CPI for the twelve months ending July 2025 over the average for the previous twelve-month period was 25.65%, showing a 5.11% decrease compared to 30.76% recorded in July 2024.
In its July 2025 PMI report, CBN stated that selling prices rose at a slower rate, with output price inflation easing for the third month in a row to its lowest level since May 2023.
