Connect with us

Economy

Petrol Price Rises 1.62% in February 2026, Yobe Records Highest – NBS Report

Published

on

Petrol

Petrol price in Nigeria rose by 1.62% to ₦1,051.47 per litre in February 2026, with Yobe recording the highest price according to NBS data

adron lemon friday

The National Bureau of Statistics (NBS) has reported a slight increase in the average retail price of Premium Motor Spirit (petrol) across Nigeria, highlighting continued fluctuations in the country’s fuel market.

The petrol price Nigeria February 2026 data shows that the average cost of petrol rose to ₦1,051.47 per litre, up from ₦1,034.76 in January, representing a 1.62 per cent month-on-month increase.

Also read: Nigeria launches $10bn petroleum licensing round to boost production

Despite the monthly rise, the report indicates a year-on-year decline, as the February 2026 average price is 15.60 per cent lower than the ₦1,245.80 recorded in February 2025. This suggests some relative easing compared to the previous year, even though short-term volatility persists.

A state-by-state breakdown reveals notable disparities in fuel pricing across the country. Yobe State recorded the highest average petrol price at ₦1,134.73 per litre, followed closely by Sokoto at ₦1,116.81 and Akwa Ibom at ₦1,109.44.

In contrast, Lagos State recorded the lowest average price at ₦966.61 per litre. Other relatively lower-priced states include Oyo at ₦973.45 and Kaduna at ₦1,000.07 per litre.

Regional analysis also shows that the North-East geopolitical zone recorded the highest average petrol price at ₦1,084.41 per litre, while the South-West had the lowest average at ₦1,023.89 per litre. These variations reflect differences in distribution costs, logistics, and market access across regions.

The report further highlights trends in diesel pricing. On a month-on-month basis, diesel prices increased by 4.30 per cent, rising from ₦1,361.57 per litre in January to ₦1,420.17 in February 2026.

However, similar to petrol, diesel prices recorded a year-on-year decline of 5.39 per cent compared to February 2025.

Lagos again recorded the highest average diesel price at ₦1,625.11 per litre, followed by Borno and Akwa Ibom. On the lower end, Ogun State had the cheapest diesel price at ₦1,183.31 per litre.

Also read: FG Lifts Petrol Import Ban as Nigeria Approves New Licences Amid Supply Concerns

The North-East zone recorded the highest zonal average diesel price, while the North-Central region had the lowest. These figures underscore ongoing inconsistencies in fuel pricing across Nigeria.

Overall, the NBS data points to a fuel market that remains sensitive to supply dynamics, transportation costs, and regional disparities, with both petrol and diesel prices showing mixed trends of short-term increases and long-term declines.

75 / 100 SEO Score

Economy

Governor Dauda Lawal woos investors, highlights Zamfara’s economic opportunities at CEO Forum

Published

on

By

Zamfara State Governor, Dauda Lawal, has called for stronger collaboration between government, businesses and investors to unlock private capital and drive inclusive economic growth in the state.

adron lemon friday

Lawal made the call while delivering a Special Policy Address at the 2026 CEO Forum organised by the Global Compact Network Nigeria in Lagos.

The forum, held under the theme “Financing a Dignified Future: Aligning Business Action, Policy and Capital,” brought together chief executives, senior government officials, industry leaders, diplomats, trade commissioners and international development partners.

Participants were drawn from key sectors of the economy, including oil and gas, energy, manufacturing, construction and infrastructure.

The governor spoke on the growing competition among states for increasingly selective private capital and the factors that could transform an economic opportunity into an investable proposition.

He explained how his administration was working to bridge the gap between available economic opportunities and investment, with emphasis on building investor confidence while ensuring that investments deliver meaningful outcomes for the people of Zamfara.

According to him, attracting investment requires more than identifying economic opportunities, but also creating the conditions, policies and partnerships capable of giving investors confidence to commit capital.

The forum provided a platform for business leaders, government officials and investors to examine ways of aligning business strategies, public policies and capital deployment to unlock productive investment.

Discussions also focused on identifying businesses, sectors and projects with strong potential but facing difficulties in accessing financing, as well as measures to make such opportunities more attractive to investors.

The organisers also introduced the concept of the “Dignity Dividend,” examining how investment-led growth could translate into better jobs, stronger businesses, increased productivity, local value creation and broader economic participation.

Another key component of the forum was the identification of actionable commitments and partnerships that participating institutions could advance over the next six to 12 months.

Notable speakers at the event included chief executives of First Bank Group, Access Bank, Flour Mills of Nigeria Plc, Nigeria Economic Summit Group, Nigerian Exchange Group, Chellarams Plc, SecureID Group and Greenwich Merchant Bank Plc, among others.

The organisers said the session would culminate in a live showcase of the Business Value and Sustainability Platform (BVSP), described as a standing coalition of business, capital and policy actors designed to sustain the dialogue.

The platform is also expected to contribute to shaping Nigeria’s private-sector engagement during the United Nations General Assembly High-Level Week.

The governor’s participation in the forum comes as Zamfara seeks to strengthen its economic base, attract productive investment and create opportunities that can support sustainable livelihoods and wider participation in the state’s economy.

45 / 100 SEO Score
Continue Reading

Economy

Fuel subsidy debate: Between economic reform and political expediency

Published

on

subsidy

Atiku petrol subsidy plans have reignited Nigeria’s 2027 debate as the ADC candidate promises relief while the Presidency demands clarity

(more…)

adron lemon friday

51 / 100 SEO Score
Continue Reading

Economy

Lawal Strengthens Zamfara Judiciary With ₦600m Support

Published

on

Lawal

The governor distributed official vehicles to judicial officers and said about 90 per cent of court rehabilitation projects across the state had been completed

(more…)

adron lemon friday

Continue Reading

Trending News