Nigerians Spend N5.43 Trillion on Petrol in Q1 2026
In the first quarter of 2026, Nigerians spent N5.43 trillion on Premium Motor Spirit (PMS), commonly known as petrol. This expenditure comes amidst a crisis in the downstream petroleum sector, highlighted by a lawsuit filed by Dangote Petroleum Refinery against the Attorney General of the Federation.
The refinery seeks to nullify fuel import permits granted to the Nigerian National Petroleum Company (NNPC) by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The lawsuit argues that the issuance of these licenses violates a previous court order and threatens the refinery's operations.
In January 2026, Nigerians consumed 1.866 billion liters of petrol, spending N1.93 trillion, while consumption dropped to 1.593 billion liters in February, amounting to N1.67 trillion. By March, consumption further declined to 1.419 billion liters, with expenditures rising to N1.82 trillion due to increased product prices influenced by the ongoing Iran war.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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