NBS Reports Significant Decrease in Petrol Prices for January 2026
The National Bureau of Statistics (NBS) has released its latest Premium Motor Spirit (Petrol) price watch report for January 2026, revealing a substantial 17.77% year-on-year decrease in average retail prices across Nigeria. According to the official data, the average price paid by consumers for petrol stood at N1,034.76 per litre in January 2026, compared to N1,258.34 recorded during the same period in January 2025.
Monthly and Yearly Price Trends
On a month-on-month basis, the average retail price declined by 1.32% from N1,048.63 in December 2025. This continuing downward trend provides some relief to Nigerian consumers who have been grappling with high fuel costs. However, despite the significant percentage decrease, prices remain elevated for many households and businesses across the country.
State-by-State Analysis of Petrol Prices
The NBS report provides detailed breakdowns of petrol prices across different states, revealing significant regional variations in fuel costs. Cross River State recorded the highest average retail price at N1,171.77 per litre, followed closely by Rivers State at N1,160.92 and Nasarawa State at N1,149.13.
Conversely, Ekiti State posted the lowest average retail price at N946.90 per litre, with Enugu State at N946.92 and Kaduna State at N947.00 also ranking among the most affordable states for petrol purchases during January 2026.
Top 10 States with Highest Petrol Prices
- Cross River: N1,171.77
- Rivers: N1,160.92
- Nasarawa: N1,149.13
- Akwa Ibom: N1,112.78
- Kwara: N1,109.16
- Adamawa: N1,090.19
- Imo: N1,085.87
- Borno: N1,079.50
- Plateau: N1,077.16
- Ebonyi: N1,065.85
Top 10 States with Lowest Petrol Prices
- Ekiti: N946.90
- Enugu: N946.92
- Kaduna: N947.00
- Abuja (FCT): N959.61
- Kogi: N960.00
- Bauchi: N967.01
- Bayelsa: N968.89
- Anambra: N980.79
- Jigawa: N983.46
- Niger: N983.51
Zonal Distribution of Average Prices
The report also analyzed petrol prices on a zonal basis, revealing that the South-South geopolitical zone recorded the highest average retail price at N1,076.04 per litre. In contrast, the South West zone posted the lowest average price at N1,009.30 per litre.
Other zonal averages include:
- South East: N1,026.74
- North Central: N1,042.58
- North East: N1,042.12
- North West: N1,012.78
Dangote Refinery Distribution Changes
In related petroleum sector developments, the Dangote Refinery has resumed sales of Premium Motor Spirit under a revised distribution structure approved by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. This new arrangement represents a departure from the previous open-access model and restricts direct purchases to approved major marketers and depot owners only.
Earlier reports indicated that Dangote Petroleum Refinery signed an offtake agreement with 12 major petroleum marketing companies to distribute between 60 million and 65 million litres of petrol daily across Nigeria. According to company statements, the refinery has established a structured framework to supply up to 65 million litres of petrol daily to the domestic market, with any excess production estimated at 15-20 million litres per day earmarked for export after meeting local demand.
The NBS report provides crucial data for policymakers, economists, and consumers tracking fuel price trends in Nigeria. While the significant year-on-year decrease offers some economic relief, the continued regional disparities in petrol prices highlight ongoing distribution and market challenges within Nigeria's petroleum sector.
