Nigeria Crude Oil Price: Bonny Light: per Barrel data was reported at 65.350 USD/Barrel in 26 Nov 2025. This records an increase from the previous number of 65.050 USD/Barrel for 25 Nov 2025. Nigeria Crude Oil Price: Bonny Light: per Barrel data is updated daily, averaging 67.540 USD/Barrel from Oct 2009 (Median) to 26 Nov 2025, with 3752 observations. The data reached an all-time high of 139.410 USD/Barrel in 08 Mar 2022 and a record low of 7.150 USD/Barrel in 21 Apr 2020. Nigeria Crude Oil Price: Bonny Light: per Barrel data remains active status in CEIC and is reported by Central Bank of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.P: Crude Oil Price. [COVID-19-IMPACT]

As of November 18, 2025, the price of one barrel of the Bonny Light crude oil in Nigeria stood at ***** U.S. dollars, slightly lower than the preceding week. Bonny Light crude oil is a high-grade crude oil produced in Nigeria that is known for its low sulfur content. A low sulfur content means low corrosive effects on the petroleum refinery infrastructure and a low environmental impact of the byproducts.

This dataset titled "Nigeria PMS Pump Price" encompasses crucial economic indicators of Nigeria, including the GDP growth rate, PMS (Premium Motor Spirit) pump prices, CPI (Consumer Price Index), and Average Crude Oil prices. The PMS pump price data was meticulously collected from the National Bureau of Statistics (NBS), while the GDP, Crude Oil Price, and CPI data were sourced from the esteemed World Bank.

This comprehensive dataset serves as a valuable resource for researchers, economists, and data analysts interested in examining the relationship between PMS pump prices and other economic factors in Nigeria. It offers a significant opportunity for in-depth analysis, trend identification, and policy evaluation related to the country's petroleum industry and overall economic performance.

By exploring this dataset, users can gain valuable insights into the dynamics and fluctuations of Nigeria's PMS pump prices, along with its correlation with GDP growth, CPI, and Crude Oil prices over time.

Disclaimer: The dataset has been compiled with utmost care and accuracy, drawing information from reliable sources. However, users are encouraged to exercise due diligence and verify the data's authenticity and relevance for their specific research or analytical purposes.

We invite researchers and analysts to leverage this dataset for various studies, forecasting models, and policy-making initiatives related to Nigeria's petroleum sector.

Note: The dataset will be periodically updated to ensure its relevance and incorporate the latest available data from the respective sources.

Please feel free to contact us for any further inquiries or assistance related to this dataset.

View yearly updates and historical trends for Nigerian Forcados Crude Oil Spot Price. Source: Energy Institute. Track economic data with YCharts analytics.

Nigeria's economy was significantly impacted by the COVID-19 pandemic. Among others, oil prices experienced a sharp fall and the country lowered the daily crude oil production consistently. In January 2019, the price per barrel amounted to ** U.S. dollars per barrel, whereas in April 2020 the price dropped by ** dollars. Crude oil, petrol, and fuel represented Nigeria's main source of export value.

Nigeria Commodity Price: Palm Oil data was reported at 873.670 USD/Metric Ton in Jun 2024. This records an increase from the previous number of 859.150 USD/Metric Ton for May 2024. Nigeria Commodity Price: Palm Oil data is updated monthly, averaging 762.830 USD/Metric Ton from Jan 2009 (Median) to Jun 2024, with 186 observations. The data reached an all-time high of 1,776.960 USD/Metric Ton in Mar 2022 and a record low of 483.490 USD/Metric Ton in Sep 2015. Nigeria Commodity Price: Palm Oil data remains active status in CEIC and is reported by Central Bank of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.P001: Commodity Prices.

Monthly and long-term Nigeria data: historical series and analyst forecasts curated by FocusEconomics.

The Nigerien crude palm oil market rose notably to $1.4B in 2024, surging by 6.2% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2024: its value increased at an average annual rate of +3.9% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -9.1% against 2022 indices.

As of February 2025, the average price of gasoline in Nigeria was around ***** Nigerian naira (NGN) per liter, around **** U.S. dollars. Compared to the previous month, the price decreased. In February 2024, the average price of petrol in the country stood at approximately *** NGN.

The Nigerien crude soybean oil market was finally on the rise to reach $50M in 2024, after two years of decline. In general, the total consumption indicated a perceptible expansion from 2012 to 2024: its value increased at an average annual rate of +4.0% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -17.4% against 2019 indices.

United States Crude Oil Price: EIA: FOB Cost of Imports: Nigeria data was reported at 58.580 USD/Barrel in Oct 2017. This records an increase from the previous number of 52.180 USD/Barrel for Aug 2017. United States Crude Oil Price: EIA: FOB Cost of Imports: Nigeria data is updated monthly, averaging 24.410 USD/Barrel from Oct 1973 (Median) to Oct 2017, with 468 observations. The data reached an all-time high of 140.010 USD/Barrel in Jun 2008 and a record low of 6.000 USD/Barrel in Oct 1973. United States Crude Oil Price: EIA: FOB Cost of Imports: Nigeria data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P002: Energy Price.

According to data from April 2020, Nigeria's daily oil production will decrease from *** million barrels to *** billion barrels. Nigeria's economy was significantly impacted by the COVID-19 pandemic. Among others, oil prices experienced a sharp fall and the country lowered the daily crude oil production consistently. Crude oil, petrol, and fuel represented Nigeria's main source of export value.

This dataset contains information about Nigeria's petroleum products for 2010-2021. Data from National Bureau of Statistics, Nigeria.

Crude oil price data

Soybean Oil Price in Nigeria - 2022. Find the latest marketing data on the IndexBox platform.

Based on price comparisons among large markets in Lagos, the price for **** liters of local palm oil was on average *** thousand Naira (almost ***** U.S. dollars). The markets taken into consideration are Mushin, Daleko, Oyingbo, and Mile 12. The prices were provided by the Nigerian company Nairametrics. Overall, Nigeria is one of the leading producers of palm oil worldwide.

China Import Price: Crude Oil: Africa: Nigeria data was reported at 721.220 USD/Ton in Feb 2025. This records an increase from the previous number of 672.266 USD/Ton for Jan 2025. China Import Price: Crude Oil: Africa: Nigeria data is updated monthly, averaging 623.766 USD/Ton from Mar 2008 (Median) to Feb 2025, with 130 observations. The data reached an all-time high of 79,000.000 USD/Ton in Dec 2017 and a record low of 197.676 USD/Ton in May 2020. China Import Price: Crude Oil: Africa: Nigeria data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

In 2024, the Nigerien crude oil market decreased by -28.5% to $9.5B, falling for the second consecutive year after eleven years of growth. Over the period under review, consumption saw a strong expansion. Over the period under review, the market reached the maximum level at $20.5B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

In 2023, purchases abroad of olive oil and its fractions increased by 40% to 135 tons for the first time since 2020, thus ending a two-year declining trend.