Yobe Hits New High As Petrol Price Jumps 1.62% – Report

The National Bureau of Statistics (NBS) has reported a modest rise in Nigeria’s fuel prices, with the average retail price of Premium Motor Spirit (petrol) increasing to ₦1,051.47 per litre in February 2026. This marks a 1.62 per cent increase from January’s ₦1,034.76, according to Ireporter Online.

Despite the monthly uptick, petrol remains cheaper compared to last year. The bureau noted that February’s price represents a 15.60 per cent decline from ₦1,245.80 recorded in February 2025.

State-level data revealed significant regional disparities. Yobe registered the highest petrol price at ₦1,134.73 per litre, followed by Sokoto at ₦1,116.81 and Akwa Ibom at ₦1,109.44. Conversely, Lagos residents paid the lowest average price of ₦966.61 per litre, with Oyo and Kaduna recording ₦973.45 and ₦1,000.07, respectively. Geopolitical analysis showed the North-East zone bore the highest average price at ₦1,084.41, while the South-West had the lowest at ₦1,023.89.

Diesel prices also saw a monthly increase, rising 4.30 per cent from ₦1,361.57 in January to ₦1,420.17 per litre in February. On a year-on-year basis, diesel remains lower, falling 5.39 per cent from ₦1,501.05 in February 2025. Lagos recorded the highest diesel price at ₦1,625.11, with Borno and Akwa Ibom following at ₦1,616.25 and ₦1,587.19, respectively. The lowest prices were seen in Ogun at ₦1,183.31, Kogi at ₦1,220.00, and Anambra at ₦1,256.76. The North-East zone had the highest average diesel price at ₦1,496.49, while the North-Central recorded the lowest at ₦1,382.17.

The latest figures underscore the persistent volatility of Nigeria’s fuel market, reflecting slight monthly price increases alongside substantial year-on-year declines for both petrol and diesel.