Nigeria's Petrol Demand Drops to 11.7bn Litres in 2026

Between January and August 2026, Nigeria's petrol consumption reached approximately 11.7 billion litres, reflecting a steady decline in demand due to rising pump prices, primarily influenced by the ongoing conflict between the US and Iran. The Nigerian Midstream and Downstream Petroleum Regulatory Authority reported an average daily consumption of about 48.2 million litres during this period.

In the first quarter, daily consumption averaged 54.7 million litres, with January peaking at 60.2 million litres. However, this figure fell to 38.6 million litres in the July-August period, with July recording the lowest at 35.7 million litres.

The average pump price surged from N804.50 per litre in January to N1,291.11 in August, significantly affecting consumption levels. The Dangote Petroleum Refinery emerged as a key player in local petrol supply, with capacity utilization increasing from 61.27% in January to 105.21% in August, reflecting a shift towards domestic refining amidst declining imports.