Nigeria's Petrol Prices Surge 22% in March 2026

According to the National Bureau of Statistics, the average retail price of petrol in Nigeria rose by 22.55% in March 2026, reaching ₦1,288.54 per liter, compared to ₦1,051.47 in February 2026. This price also reflects a 2.13% increase from ₦1,261.65 in March 2025.

The report highlights significant variations across states, with Anambra recording the highest average price at ₦1,441.22 per liter, followed by Sokoto at ₦1,377.55 and Borno at ₦1,375.16. In contrast, Lagos had the lowest price at ₦1,162.71, with Ogun and Kaduna following at ₦1,169.78 and ₦1,193.40, respectively.

The report also noted an increase in diesel prices, which averaged ₦1,648.08 per liter in March 2026, marking a 3.05% rise from ₦1,599.30 in March 2025. Ebonyi recorded the highest diesel price at ₦2,262.29, while Kogi had the lowest at ₦1,383.40.

Additionally, the cost of liquefied petroleum gas (LPG) also saw significant increases.