February 04, (THEWILL) — Nigerian motorists experienced notable relief at fuel stations in December 2025 as the average retail price of Premium Motor Spirit (PMS), commonly known as petrol, dropped to ₦1,048.63 per litre.
This represents an 11.81% decrease compared to the ₦1,189.12 recorded in December 2024, according to the latest data from the National Bureau of Statistics (NBS).
The NBS Premium Motor Spirit Price Watch report also shows a month-on-month decline of 1.20%, with prices falling from ₦1,061.35 in November 2025 to the current December average.
The state-level analysis reveals significant regional disparities. Kogi State recorded the highest average price at ₦1,104.45 per litre, followed by Imo State (₦1,086.26) and Yobe State (₦1,081.80).
In contrast, consumers in Oyo State enjoyed the lowest prices at ₦996.55 per litre, with Kebbi (₦1,003.08) and Nasarawa (₦1,011.05) also offering relatively affordable rates.
By geopolitical zones, the North East zone had the highest average price at ₦1,073.67, while the South West zone recorded the lowest at ₦1,029.51.
The North Central, North West, South East, and South South zones recorded ₦1,045.74, ₦1,046.29, ₦1,049.26, and ₦1,048.27 respectively.
Analyzing the 12-month trajectory, petrol prices peaked in January 2025 at ₦1,258.34 per litre before experiencing a general downward trend throughout the year.
The lowest price of the year was recorded in September 2025 at ₦970.59, though prices fluctuated slightly in subsequent months before settling at the December figure.
Industry analysts attribute the price moderation to increased local refining capacity and specific market interventions.
A major factor was the decisive price slash by the Dangote Refinery, which in late December 2025 reduced pump prices to ₦739 per litre across over 2,000 MRS Oil Nigeria Plc filling stations.
“Starting from Tuesday, MRS will start selling petrol at ₦739/litre. Definitely, we will enforce that low price,” Aliko Dangote stated during the December gantry price reduction.
This intervention, supported by a daily supply of 50 million litres, significantly altered supply dynamics during the Yuletide and forced competing outlets to lower their rates to remain competitive.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
