The National Bureau of Statistics (NBS) has reported that the average retail price of petrol in Nigeria increased to N1,596.25 per litre in May 2026. This marks a 55.31 per cent rise compared to the N1,027.76 recorded in May 2025. The data was published in the NBS Premium Motor Spirit (Petrol) Price Watch for May, released in Abuja on Wednesday.
From April to May 2026, the price rose by 4.13 per cent, up from N1,532.93. The report provided state-level breakdowns, showing Edo State recorded the highest average price at N1,722.91 per litre. Bauchi followed with N1,715.47, and Benue with N1,698.57. The lowest prices were observed in Adamawa at N1,469.83, Katsina at N1,470.63, and Sokoto at N1,489.33.
A regional analysis revealed that the South-South zone had the highest average price at N1,623.84 per litre, while the North-West recorded the lowest at N1,564.11. The NBS attributed the month-on-month increase to global factors, citing rising Brent crude oil prices. Experts linked the surge to geopolitical tensions in the Middle East, particularly the closure of the Strait of Hormuz, which disrupted energy supplies and contributed to higher global crude prices.
The NBS reports a sharp rise in petrol prices while attributing it to global supply disruptions, yet Nigerian consumers are left paying significantly more without corresponding improvements in domestic fuel infrastructure. The data shows Edo, Bauchi and Benue bearing the highest costs, suggesting regional disparities are worsening under the current pricing system. With the South-South paying the most on average, the burden falls heaviest on oil-producing regions that see little benefit from their own resources. The explanation hinges on international factors, but the local impact is measured in naira at the pump, not geopolitical analysis.
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