Average retail price of petrol drops by 15.60% to N1,051.47/litre, reveals NBS
The National Bureau of Statistics (NBS) on Wednesday disclosed that the average retail price paid by consumers for Premium Motor Spirit (Petrol) for February 2026 was N1,051.47, indicating a 15.60per cent decrease compared to the value recorded in February 2025 (N1,245.80).
According to the NBS report, comparing the average price value with that of the previous month (i.e., January 2026), the average retail price increased by 1.62per cent from N1,034.76.
On State profile analysis, Yobe State had the highest average retail price for Petro), at N1,134.73.
Sokoto and Akwa Ibom States were next, with N1,116.81 and N1,109.44, respectively. Conversely, Lagos, Oyo and Kaduna States had the lowest average retail prices for Premium Motor Spirit (Petrol), at N966.61, N973.45, and N1000.07, respectively.
Lastly, on the Zonal profile, the report revealed that North East Zone had the highest average retail price of N1,084.41, while the Southwest Zone had the lowest price of N1,023.89.
