Economy
Petrol Price Rises 1.62% in February 2026, Yobe Records Highest – NBS Report
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
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.
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Economy
Governor Dauda Lawal Join VP Shettima’s Delegation to Benin Republic, Seeks Industrial Model to Boost Zamfara’s Agric Zones
Zamfara State Governor Dauda Lawal has described the Glo-Djigbé Industrial Zone (GDIZ) as a practical blueprint for transforming Zamfara state’s agricultural sector, as he joined Vice President of Nigeria, Senator Kashim Shettima and five other governors on a working visit to the Benin Republic industrial hub on Friday.
The delegation toured the 1,640-hectare public-private industrial platform, inspecting integrated textile and agro-processing facilities where locally produced cotton is converted into yarn, fabric and finished garments while cashew and soybean are processed for domestic and export markets. GDIZ, developed by the Beninese government and ARISE Integrated Industrial Platforms, has created more than 25,000 jobs since production began in 2021.
For Governor Lawal, who presides over an agrarian state with vast arable land and a strong comparative advantage in crop production, the visit presented an opportunity to draw direct lessons for Zamfara’s agricultural transformation agenda.
“Zamfara holds a strong comparative advantage in agriculture. We grow all crops in the state, we are not limited to soybeans. We have the land and it is fertile,” Governor Lawal had told global investors at the Africa Investment Forum in Morocco last November, where he signed a strategic Memorandum of Understanding with the Ministry of Finance Incorporated (MOFI) to drive large-scale agricultural transformation under the INTEGRANIUM Initiative.
The GDIZ visit is aimed at strengthening the implementation of Nigeria’s Special Agro-Industrial Processing Zones Programme, drawing practical lessons from Benin’s approach to agricultural value addition, industrial infrastructure, investment mobilisation and export-oriented production. Particular attention was given to the textile park’s integrated production system covering cotton spinning, weaving, fabric processing and garment manufacturing. Governor Lawal believes that Zamfara State can benefit from the $370 billion worth of global cotton valuation by ensuring Zamfara grows more cotton and can also lead the charge by reviving moribund textile manufacturing hubs and value chain which could generate millions of jobs, expand non-oil exports and stimulate economic activities.
Governor Lawal’s participation in the delegation aligns with Zamfara’s recently launched 10-year Development Plan (2025–2034), which envisions the state becoming “a benchmark for transformative economic growth, not merely for Nigeria, but the continent of Africa”. The plan prioritises maximising Zamfara’s agricultural and natural resource strengths through partnerships, mechanised farming, agro-processing and value chains to create jobs, improve food security and reduce poverty-driven insecurity.
Governor Lawal was also in company of other state Governors like; Hope Uzodimma (Imo), Caleb Mutfwang (Plateau), AbdulRahman AbdulRazaq (Kwara), Dikko Radda (Katsina), and Umar Namadi (Jigawa). The visit is expected to inform the development of garment-training facilities and dedicated processing infrastructure near agricultural production communities across Nigeria.
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