Diesel price falls 9.32% year-on-year to ₦1,361.57 in January — NBS

2026-02-26 - 17:27

By Progress Godfrey ABUJA — The average retail price of Automotive Gas Oil (AGO), commonly known as diesel, declined to ₦1,361.57 per litre in January 2026, down from ₦1,501.58 recorded in January 2025, according to the National Bureau of Statistics (NBS). The NBS Automotive Gas Oil Price Watch report for January indicates that the drop represents a 9.32 percent year-on-year decrease. On a month-on-month basis, the price also fell by 2.86 percent from ₦1,401.63 per litre in December 2025. Diesel prices varied widely across states. Lagos recorded the highest average price at ₦1,560.82 per litre, followed by Akwa Ibom at ₦1,558.52 and Borno at ₦1,480.00. In contrast, the lowest average prices were recorded in Kogi (₦1,200.00), Ogun (₦1,230.52), and Zamfara (₦1,242.82) states. Zonal analysis showed that the North East had the highest average price at ₦1,430.96 per litre, while the South East recorded the lowest at ₦1,288.20. The report highlights ongoing regional disparities in diesel pricing, despite the overall decline recorded nationwide.