Petrol Prices Exceed N1,000 Per Litre as Motorists Queue for Cheaper Fuel Across Nigeria
Story: written by springnewsng March 9,2026
Motorists in Lagos and other parts of Nigeria are facing growing queues at filling stations as the pump price of Premium Motor Spirit (PMS), popularly known as petrol, climbs beyond N1,000 per litre in many retail outlets.
A market check conducted on Saturday revealed that several filling stations across the Lagos mainland and island have adjusted their pump prices above the N1,000 mark, prompting drivers to flock to outlets still selling fuel at relatively lower rates.
Private motorists and commercial transport operators were seen lining up at MRS filling stations, particularly along the Lagos–Ibadan Expressway, where petrol was still selling for around N937 per litre.
Meanwhile, other fuel marketers have raised their pump prices. Stations operated by Eterna Plc reportedly increased the price to about N1,040 per litre, while outlets run by North West Petroleum & Gas Company Limited and Fatgbems Petroleum Company Limited adjusted their rates to approximately N1,030 per litre. Retail stations under the Mobil brand were selling slightly lower at about N1,025 per litre.
Despite the rush by motorists to purchase petrol, some filling stations were not dispensing fuel on Saturday morning. Several outlets operated by the Nigerian National Petroleum Company (NNPC) Limited were shut as of early hours of the day.
For instance, the NNPC retail outlet at OPIC Estate was closed around 7:00 a.m., though the exact reason for the shutdown remained unclear. However, other NNPC stations in locations such as Iwaya, Bariga and parts of Ikoyi were selling petrol at about N1,050 per litre as of midday.
Some TotalEnergies outlets along the Lagos–Ibadan Expressway were also not dispensing fuel when this report was filed, while a few others recorded minimal queues.
The development follows a recent surge in global crude oil prices, which climbed above $80 per barrel, forcing adjustments in Nigeria’s downstream petroleum market.
Earlier in the week, Dangote Petroleum Refinery raised its ex-depot price of petrol from N774 to N874 per litre, representing a N100 increase. The hike has begun reflecting in retail pump prices across the country.
Energy analysts warn that petrol prices may rise further if global oil prices continue to increase amid geopolitical tensions in the Middle East.
Paul Alaje, Chief Economist at SPM Professionals, explained that an increase in crude oil prices usually leads to higher costs for refined petroleum products such as petrol, diesel and aviation fuel.
According to him, the rising global oil price has already added additional costs to petrol in Nigeria and could push pump prices beyond N1,000 per litre in the coming months if the geopolitical crisis continues.
Global oil prices climbed sharply during the week as investors reacted to escalating tensions involving the United States, Israel and Iran.
The situation has raised fears of supply disruptions, especially around the Strait of Hormuz, a critical shipping route responsible for transporting nearly 20 percent of the world’s seaborne crude oil.
Reports indicate that Iran has carried out retaliatory missile and drone strikes in parts of the Middle East, including Lebanon, Saudi Arabia, Qatar and Dubai, while also threatening to disrupt global energy supply routes.
The escalating conflict pushed crude oil prices up by nearly 14 percent earlier in the week before easing slightly. At the same time, European natural gas prices surged close to 40 percent after QatarEnergy announced the suspension of liquefied natural gas production following attacks on some of its facilities.
Analysts caution that if the tensions persist and global supply chains remain affected, energy prices could rise further, increasing inflationary pressures on economies worldwide and creating additional challenges for policymakers trying to stabilise prices
