Abuja, March 27, 2026 (NAN) – The National Bureau of Statistics (NBS) reports a modest rise in the average retail price of petrol, climbing from N1,034.76 in January to N1,051.47 in February.
The National Bureau of Statistics (NBS) released its Premium Motor Spirit (Petrol) Price Watch for February on Friday in Abuja.
According to the report, the February price of N1,051.47 reflects a 1.62% increase compared to January’s price of N1,034.76.
However, it was noted that the average retail price of petrol saw a decrease year-on-year, dropping from N1,245.80 in February 2025 to N1,051.47 in February.
The February price of N1,051.47 marks a significant decline of 15.60 percent compared to the N1,245.80 recorded in February 2025.
An analysis of state profiles reveals that Yobe incurred the highest average retail price at N1,134.73 per litre, with Sokoto and Akwa Ibom following at N1,116.81 and N1,109.44, respectively.
Conversely, Lagos boasted the lowest average retail price at N966.61, succeeded by Oyo at N973.45 and Kaduna at N1,000.07.
Zone-wise analysis indicated that the North-East region faced the highest average retail price in February at N1,084.41, while the South-West region recorded the lowest at N1,023.89.
The National Bureau of Statistics (NBS) reported in its Diesel Price Watch Report for February that the average retail price for consumers rose by 4.30% compared to the previous month.
The report indicates that the retail price increased from N1,361.57 per litre in January 2026 to N1,420.17 per litre in February 2026.
However, when looking at the year-over-year figures, there was a decrease of 5.39%, with prices falling from N1,501.05 per litre in February 2025 to an average of N1,420.17 in February 2026.
Analysis of state profiles revealed that Lagos topped the list for the highest average diesel price in February, reaching N1,625.11 per litre. Following closely were Borno at N1,616.25 and Akwa Ibom at N1,587.19.
Conversely, the lowest diesel price was found in Ogun at N1,183.31 per litre, with Kogi at N1,220.00 and Anambra at N1,256.76 trailing behind.
Furthermore, a zonal analysis indicated that the North-East recorded the highest diesel price at N1,496.49 per litre, while the North-Central zone reported the lowest at N1,382.17 per litre. (NAN)
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