Diesel prices in Nigeria hit N1,758.26 per liter in May 2025, representing a 25.24 per cent year-on-year increase from N1,403.96 per liter in May 2024.
On a month-on-month basis, prices rose by 2.08 per cent from N1,722.45 in April 2025.
This is contained in a latest data released by the National Bureau of Statistics (NBS) titled “Automotive Gas Oil (Diesel) Price Watch” for May 2025.
The data which showed on a month-on-month basis, showed that an increase of 2.08 per cent was recorded from N1722.45 in April 2025 to an average of N1758.26 in May 2025.
NBS had reported that Nigeria’s headline inflation rate dropped to 22.97 per cent in May 2025, marking the second consecutive month of decline.
The figure reflected a continued easing of price pressures, down from 23.71 per cent recorded in April 2025.
The NBS data showed that on a year-on-year basis, the headline inflation rate was 10.98 per cent lower than the rate recorded in May 2024, which stood at 33.95 per cent.
Analysis of the report noted that Benue State (N2441.46), Adamawa State (N2350.32.32), and Plateau State (N2201.52) were the top three States with the highest average price of the product in May 2025, while top three lowest prices were recorded in Ondo State (N1318.40.00), Kogi State (N1360.00), and Anambra State (N1361.02) in the month under review.
According to the NBS data, residents of the North-Central with seven states and the FCT paid the highest for the product at an average of N1920.47.
On the other hand, the South-West zone, with six states, had the lowest price of N1553.19 compared to other geo-political zones.
In the North-West, with seven states, diesel was at an average of N1769.28 in May 2025. Also, in the North-East with six states, the average price was N1767.21.
In the South-East, with five states, the average price of the product was N1632.33.
Also, in the South-South with six states, the average price of the product was N1857.19 per litre.
In April 2025, the average retail price of diesel paid by consumers increased by 21.72 per cent on a year-on-year basis from a lower cost of N1415.06 per litre recorded in April 2024 to a higher cost of N1722.45 per litre in April 2025.
The top three states with the highest average price of the product in April 2025 include Benue State (N2419.30), Adamawa State (N2284.32), and Plateau State (N2205.13).
The top three lowest prices were recorded in the following states, namely, Kogi State (N1300.00), Ondo State (N1313.33), and Anambra State (N1359.27).
According to the NBS data, states with the highest diesel prices remained Benue, Adamawa, and Plateau for both April and May 2025.
Also, the states with the lowest average prices for April and May 2025 remained: Kogi, Ondo, and Anambra.
