KEY POINTS
- Nigerians spent about ₦5.43 trillion on petrol in Q1 2026 despite a slight drop in consumption compared to the previous quarter.
- About 4.88 billion litres of fuel were consumed, with prices rising sharply due to global oil market tensions.
- A legal dispute between Dangote Petroleum Refinery and marketers over import licences continues to fuel uncertainty in the downstream petroleum sector.
Nigerians spent an estimated ₦5.43 trillion on petrol, commonly known as petrol, in the first quarter of 2026, amid rising fuel prices and ongoing tensions in the downstream petroleum sector.
The figures were drawn from an analysis of data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the National Bureau of Statistics (NBS), which tracked monthly consumption and average pump prices.
The spending reflects continued pressure on households and businesses following subsidy removal, global oil market shocks, and geopolitical tensions affecting crude oil prices.
According to the data, a total of about 4.88 billion litres of petrol was consumed between January and March 2026, including both locally refined and imported products.
In January alone, Nigerians consumed about 1.87 billion litres, costing an estimated ₦1.93 trillion at an average price of ₦1,034.76 per litre.
Consumption dropped slightly in February to 1.59 billion litres, with spending rising to ₦1.67 trillion due to a marginal increase in price.
In March, consumption further declined to 1.42 billion litres, but expenditure rose again to ₦1.82 trillion as average prices climbed to ₦1,288.54 per litre, driven by global crude oil disruptions linked to geopolitical tensions.
Spending Slightly Lower Than Previous Quarter
The ₦5.43 trillion spent in Q1 2026 represents a 3.04 percent decline compared to the ₦5.60 trillion recorded in the last quarter of 2025.
During that period, Nigerians consumed over 5.3 billion litres of petrol, with December recording the highest consumption due to increased festive demand.
Despite the quarterly decline in consumption, overall expenditure remained extremely high due to persistent fuel price volatility.
The report comes amid renewed conflict in the downstream petroleum sector following a lawsuit filed by Dangote Petroleum Refinery seeking to nullify fuel import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to marketers and the Nigerian National Petroleum Company (NNPC).
The refinery argues that continued issuance of import permits undermines its operations and contradicts provisions of the Petroleum Industry Act (PIA), which it says prioritises domestic refining capacity.
However, marketers under the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) insist that import licences remain critical to maintaining fuel supply stability and preventing shortages.
DAPPMAN has also vowed to support its members in defending the legality of the licences in court, arguing that they are essential tools for sustaining Nigeria’s fuel distribution system.
