PETROL PRICES MAY DROP BELOW N500 PER LITRE IN 2025, EXPERTS SAY
By Ali Elias
Petrol prices in Nigeria, currently ranging between N900 and N950 per litre, are expected to decline significantly in 2025, potentially reaching as low as N500 per litre, according to industry experts. The anticipated reduction stems from a combination of factors tied to ongoing reforms and improvements in the downstream oil sector.
The federal government’s deregulation policy has been a key driver of competition and efficiency in the petroleum sector, leading to early signs of price reduction. Additionally, the upcoming full operation of the Port Harcourt, Warri, and Dangote refineries, along with the reactivation of modular refineries, is expected to boost local production and lessen reliance on imports. The Federal Executive Council's naira-for-crude polic...









