Yobe state leads, as Nigerians pay ₦1,051 for PMS in February
By Kazeem Azeez
Nigerians paid an average of ₦1,051.47 per litre for Premium Motor Spirit (petrol) in February 2026, according to data released by the National Bureau of Statistics (NBS), with Lagos recording the lowest prices and Yobe the highest, highlighting widening regional disparities in fuel costs across the country.
The figure represents a 15.6 percent decline from ₦1,245.80 recorded in February 2025, indicating a reduction in pump prices on a year-on-year basis.
However, the data also showed a month-on-month increase of 1.62 percent from ₦1,034.76 in January 2026, suggesting that price stability remains uncertain despite the annual drop.
“The average retail price paid by consumers for Premium Motor Spirit (Petrol) for February 2026 was ₦1,051.47,” the NBS said in its latest Petrol Price Watch report, which tracks fuel prices across Nigeria.
The agency said the data was collected from outlets in all 774 local government areas across the 36 states and the Federal Capital Territory, Abuja.
The exercise involved over 10,000 respondents and more than 700 field staff, with quality control measures in place to ensure accuracy of the figures.
A breakdown by state revealed significant differences in petrol prices. Yobe State recorded the highest average retail price at ₦1,134.73 per litre. Sokoto and Akwa Ibom followed at ₦1,116.81 and ₦1,109.44 respectively. In contrast, Lagos recorded the lowest average price at ₦966.61, while Oyo and Kaduna posted ₦973.45 and ₦1,000.07 respectively.
The gap between the highest and lowest states reflects ongoing challenges in fuel distribution and access.
Analysts say transportation costs, distance from supply depots and infrastructure constraints continue to influence pump prices, particularly in northern parts of the country.
Zonal analysis further underscored the disparity as the North East recorded the highest average petrol price at ₦1,084.41, while the South West had the lowest at ₦1,023.89.
The pattern aligns with longstanding supply chain dynamics, where coastal and urban centres often benefit from easier access to fuel distribution networks.
The latest figures come against the backdrop of ongoing reforms in Nigeria’s downstream oil sector following the removal of petrol subsidies. Since the policy shift, petrol prices have been largely determined by market forces, making them more sensitive to exchange rate movements, global oil prices and domestic supply conditions.
Fuel prices remain a key driver of inflation and household spending in Nigeria. Transport fares, food prices and production costs are closely tied to the cost of petrol, making any change in pump prices significant for both consumers and businesses.
Recent data from the NBS indicate that inflation has shown signs of easing in recent months, but economists note that fluctuations in fuel prices continue to pose risks to price stability.
The slight increase recorded in February, despite the annual decline, suggests that underlying pressures in the market persist.
Industry observers say improved supply conditions may have contributed to the year-on-year drop, including better product availability and adjustments in import dynamics.
However, they caution that structural issues such as logistics and distribution inefficiencies still need to be addressed to achieve more uniform pricing nationwide.
The NBS report provides a snapshot of consumer-level pricing and is based on actual transactions rather than official pump price benchmarks. This approach offers insight into what Nigerians are paying at retail outlets across different regions.
Stakeholders say sustained efforts to strengthen supply chains, expand storage and improve transportation infrastructure will be necessary to reduce regional disparities and ensure more stable pricing.
For many Nigerians, petrol prices remain a central economic indicator, with direct implications for daily living costs.
The February data highlights both a measure of relief in annual terms and continued uncertainty in the short term, as the country navigates a market-driven fuel pricing system.