Consumers paid slightly more for petrol in February 2026 despite a period of relative price stability, according to the National Bureau of Statistics (NBS). The agency reported that the average retail price of Premium Motor Spirit (PMS) rose to N1,051.47 per litre, a 1.62 per cent increase from N1,034.76 recorded in January.
However, on a year-on-year basis, petrol prices dropped by 15.60 per cent compared to N1,245.80 in February 2025, indicating that fuel costs remain significantly lower than levels recorded a year ago.
State-by-state analysis revealed sharp price disparities across the country.
Yobe recorded the highest average price at N1,134.73 per litre, followed by Sokoto at N1,116.81 and Akwa Ibom at N1,109.44, while Lagos posted the lowest average price at N966.61, alongside relatively lower prices in Oyo and Kaduna.
The N168.12 gap between the highest and lowest states highlights persistent supply and distribution challenges, particularly in northern Nigeria.
Zonal data also reflected this pattern, with the North-East recording the highest average price at N1,084.41, while the South-West posted the lowest at N1,023.89.
Other zones recorded moderate averages, including N1,044.20 in the North-Central, N1,044.79 in the North-West, N1,058.75 in the South-East and N1,056.33 in the South-South.
Meanwhile, the Chief Executive Officer of Dangote Refinery, David Bird, said the refinery receives far below its agreed crude supply under the Federal Government’s crude-for-naira arrangement.
Speaking on Arise News, Bird disclosed that the facility currently gets about five crude cargoes monthly instead of the expected 13 to 15, forcing it to source Nigerian crude grades from the international market at higher costs.