Price of Gasoline in Nigeria 2023

Gasoline (petrol) has been the major product exported in Nigeria since it was discovered.

Nigeria, which is one of the oil-producing countries in the world, is also one of the largest exporters of petroleum in the world.

It is home to many oil wells that don’t seem to be drying up anytime soon. Everyday, millions of barrels of crude oil are exported to foreign countries after being refined in Nigerian refineries. To this effect, one could expect the price of fuel in Nigeria to fall or, at least, stabilize.

However, the price of gasoline in Nigeria has seen as many fluctuations as the Nigerian Naira. It seems that the price increases with the introduction of a new government. The scarcity of fuel in festive seasons sometimes leads to temporary hike in price.

Since 2017, Nigerians have been plagued with several rumours of the proposed increment of the price of fuel. While most of these rumours turned out to be false, there is still uncertainty that the current price will remain so or reduce in time to come.

You’ll find out the details of the current price of gasoline in Nigeria in this article.


Uses of Gasoline

Gasoline is popularly referred to as fuel in most parts of Nigeria. However, its official name is premium motor spirit (PMS). It is used to power internal combustion engines mostly in vehicles and generators.

It is one of the most used commodities in Nigeria due to the increasing number of vehicles on the roads. Also, the epileptic power supply in the country has seen an increase in the reliance on generators for power supply, leading to an increase in the demand for fuel.

Below are the common uses of petrol in Nigeria.


1 To power vehicles

As said earlier, gasoline is used to power internal combustion engines in vehicles. Without it, vehicles will be unable to move or perform their functions. It is used to power mostly road transport vehicles like cars, buses, vans, and motorbikes. It is also used to power some types of trains.

Many mechanical farm vehicles like tractors require gasoline for them to move and perform adequately.


2 To Power Generators

Generators have become a popular sight in many Nigerian homes. From the small-sized generators to the big sound-proof models, they have taken up space in almost all Nigerian homes as the power supply in the country remains problematic.

Most generators used in Nigeria require gasoline to operate, thus most households are affected when there is an increase in the price of gasoline.


3 To power industries

Nigeria is home to an impressive number of industries that boost the economy. Many of these industries make use of pieces of equipment that require electricity. This electricity is usually generated through generating sets or directly through the machines.

Vulcanizers and welders are also examples of professionals that require fuel to power their working tools.


Price of Gasoline in Nigeria

The official pump price for gasoline (PMS) in Nigeria is 145. However, it can be found in some states for as high as N155.

Also, you may find different gasoline stations selling at different prices. Some could sell for N145 per liter while others will inflate the price to N155 per liter.

Fuel is usually cheap in areas that it is readily available. And this is why it’s usually found at the cheapest prices in states within the south-south, south-east, and south-west regions. Don’t be surprised if it’s costlier in farther regions like the North.


How to Store Gasoline Safely

Buying and storing gasoline could come in handy, especially if you use it a lot. Or it’s getting close to the festive season and you want to save yourself the trouble of remaining on the que for hours due to fuel scarcity.

There are several precautions and safety measures you need to put in place when storing gasoline as the liquid is very volatile.

Below are the steps to take to store it properly and safely.


Use the appropriate container

Gasoline can’t be stored in just any container. Use one that’s strong and has enough safety features to prevent spills. Always pick a container that comes with spill-proof caps. Usually, yellow or black containers are the preferred options for storing gasoline in Nigeria.

It is advised that you do not store a large amount of gasoline in one room. Keep just about 25 gallons in one place. If you have more to store, move them to another room.


Keep the container upright in a shaded and stable location

Try not to keep your gasoline close to your home as you could run the risk of fire outbreak or exposure to fumes if you do so. Store it in a well-ventilated space away from your house.

When storing, make sure that the container is not exposed to direct sunlight. Sunlight will cause the gasoline to evaporate and the container to expand.

Also, too much heat from the sun can create a risk of fire or explosion. Ensure you store the containers away from other sources of heat to prevent fire hazard.


When to Dispose of Gasoline

Just like everything else, gasoline has an expiry date. If not used for about a year, it’s better to dispose of it than use it. However, your storage system could make you dispose of it earlier than expected.

To know if your fuel is still good enough for use, pour some of it into a bowl and compare it with a sample of fresh gasoline. If you see signs of oxidation (dark coloration), it’s in your best interest to dispose of it.


How to Dispose of Gasoline

Pouring away the gasoline could contaminate the water sources around you. To dispose of it properly, contact the waste management agency in your location to help you do so.

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