Residents of Cross Rivers State apparently spent more on Premium Motor Spirit (PMS), also known as petrol, in January 2026.
Data released by the National Bureau of Statistics shows that the state recorded the highest average retail price of petrol in January 2026.
The latest NBS Petrol Price Watch for January 2026 indicates that Cross River State had the highest average retail price for Petrol at ₦1,171.77 per litre, followed by Rivers and Nasarawa States, which had ₦1,160.92 and ₦1,149.13, respectively.
However, Ekiti, Enugu and Kaduna States had the lowest average retail prices for Petrol at ₦946.90, ₦946.92, and ₦947.00, respectively.
The NBS report shows that generally, the average retail price of petrol dropped year-on-year by 17.77 per cent from ₦1,258.34 in January 2025 to ₦1034.76 in January 2026.
When compared with the previous month of December 2025 (₦1048.63 per litre), the average retail price also decreased by 1.32 per cent.
PMS is the widely used petroleum product in the country, accounting for approximately 70 per cent of the nation’s petroleum demand, driven by its essential use in transportation, small-scale industrial activities, and power generation through petrol-powered generators.
Recent data released by the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), revealed that nationwide PMS consumption stood at 60.2 million litres per day in January 2026.
Analysts believe that the drop in both annual and month-on-month average retail price of petrol is linked to the rising competition in the downstream, given the resurgence of domestic supply powered by Dangote Refinery, which now accounts for about 62 per cent of total PMS supply to the Nigerian market.
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Diesel Price Drops to ₦1361.57 per litre in January
The average retail price of Automotive Gas Oil (Diesel) paid by consumers also dropped to ₦1,361.57 per litre in January 2026, reflecting a year-on-year decrease of 9.32 per cent from ₦1,501.58 per liter recorded in the corresponding period last year (January 2025).
Also, on a month-on-month basis, the average retail price of diesel saw a decrease of 2.86 per cent from ₦1,401.63 in December 2025.
On a state-by-state basis, Lagos recorded the highest average retail price with ₦1,560.82, followed by Akwa Ibom (₦1,558.52) and Borno (₦1,480.00).
“Furthermore, the top three lowest prices were recorded in the following states, namely, Kogi State (₦1,200.00), Ogun State (₦1,230.52), and Zamfara State (₦1,242.82),” the report further stated.
“The Zonal representation of the average price of Automotive Gas Oil (Diesel) shows that the North East Zone has the highest price of ₦1,430.96, while the South East Zone has the lowest price of ₦1,288.20 compared to other Zones.”
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
