The average retail price of petrol in Nigeria rose to ₦1,532.93 per litre in April 2026 [1].
This surge in fuel costs increases the financial burden on Nigerian consumers and businesses, potentially driving up transportation costs and the price of basic goods across the country.
According to data from the National Bureau of Statistics (NBS), the price reflects a significant jump from the previous month [1]. In March 2026, the average retail price of Premium Motor Spirit stood at ₦1,288.54 per litre [1].
The NBS said that this represents an 18.97% increase between March and April 2026 [1]. The data, released in early May, provides a national average of retail prices across the country [1].
Fuel pricing remains a volatile factor in the Nigerian economy. The rapid climb in costs—nearly 19% in a single month—highlights the ongoing instability in the energy market [1].
“The average retail price of petrol in Nigeria rose to ₦1,532.93 per litre in April 2026.”
The sharp increase in petrol prices indicates continued inflationary pressure within Nigeria. Because fuel is a primary input for logistics and power generation, a nearly 19% monthly rise typically triggers a ripple effect, increasing the cost of food and services as transporters pass these expenses to consumers.
