The National Bureau of Statistics (NBS) has disclosed that the average retail price of Premium Motor Spirit (petrol) rose slightly to ₦1,051.47 per litre in February 2026.
This represents an increase from the ₦1,034.76 recorded in January, according to the bureau’s Petrol Price Watch report released in Abuja on Friday.
The NBS said the February figure indicated a 1.62 per cent increase compared to the January price.
Despite the monthly rise, the bureau noted that petrol prices declined on a year-on-year basis.
“The February price of ₦1,051.47 represents a 15.60 per cent decrease over the price of ₦1,245.80 recorded in February 2025,” the report stated.
State-by-state analysis showed significant variations in petrol prices across the country.
According to the NBS, Yobe recorded the highest average retail price at ₦1,134.73 per litre, followed by Sokoto at ₦1,116.81 and Akwa Ibom at ₦1,109.44.
On the other hand, Lagos residents paid the lowest average price of ₦966.61 per litre, with Oyo and Kaduna following at ₦973.45 and ₦1,000.07 respectively.
Further breakdown by geopolitical zones revealed that the North-East recorded the highest average petrol price at ₦1,084.41 per litre.
In contrast, the South-West posted the lowest average price at ₦1,023.89, reflecting regional disparities in fuel distribution and pricing.
In a related development, the NBS said the average retail price of diesel increased by 4.30 per cent on a month-on-month basis.
The price rose from ₦1,361.57 per litre in January 2026 to ₦1,420.17 per litre in February.
However, on a year-on-year basis, diesel prices declined.
“On a year-on-year basis, the price decreased by 5.39 per cent from ₦1,501.05 per litre recorded in February 2025 to an average of ₦1,420.17 in February 2026,” the bureau said.
The report showed that Lagos recorded the highest average diesel price at ₦1,625.11 per litre.
This was followed by Borno at ₦1,616.25 and Akwa Ibom at ₦1,587.19.
Conversely, Ogun recorded the lowest diesel price at ₦1,183.31 per litre, with Kogi and Anambra posting ₦1,220.00 and ₦1,256.76 respectively.
Zonal analysis further indicated that the North-East had the highest average diesel price at ₦1,496.49 per litre.
The North-Central zone recorded the lowest average price at ₦1,382.17 per litre. The latest figures highlight the continued volatility in Nigeria’s fuel market, with slight monthly increases despite notable year-on-year declines in both petrol and diesel prices.
