Nigeria’s petrol consumption drops to 56.9m litres/day in February – NMDPRA

Nigeria’s average daily consumption of Premium Motor Spirit (PMS), widely known as petrol, dropped to 56.9 million litres per day in February 2026, down from 60.2 million litres per day in January.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed this in its factsheet released yesterday.

The agency noted a sharp departure from the nation’s conventional supply pattern, in which local refineries accounted for less than 20 per cent of petrol supply.

The authority highlighted the increasing impact of the Dangote Refinery in the domestic market, stressing that its large-scale refining capacity is gradually influencing supply dynamics.

According to the regulator, petrol imports dropped significantly during the month, declining by about 25.4 million litres per day due to reduced importation.

The development highlighted ongoing adjustments within Nigeria’s downstream sector as supply sources and distribution patterns continue to evolve.

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Despite the presence of the large private refinery, Nigeria’s state-owned refineries contributed little to petrol output during the period under review, as rehabilitation efforts continued across the facilities.

Meanwhile, in a statement, the Dangote Petroleum Refinery announced a major reduction in the prices of petrol, and Automotive Gas Oil (AGO), also known as diesel.

The refinery said the price adjustment is aimed at easing the financial burden on consumers and supporting broader economic stability across Nigeria.

Under the new pricing framework, the gantry price of PMS has been reduced from N1,175 to N1,075 per litre, representing a N100 reduction.

The coastal price has also been adjusted downward from N1,150 to N1,028 per litre, representing a N122 decrease.

Diesel prices were similarly reduced from N1,620 to N1,430 per litre, amounting to a N190 reduction.

The refinery stated that the decision reflects its commitment to maintaining a pricing structure that is sensitive to global market trends and aligned with its principles of fairness and transparency.

According to the company, crude processed at the refinery is purchased at the global benchmark price plus a premium of $3 to $6.

Foreign exchange payments are made at the prevailing market rate, with no subsidies applied to either crude or foreign exchange.

It added that crude supplied under the Naira-for-Crude arrangement is also priced in line with the global benchmark plus premium and converted to naira using the current exchange rate.

The refinery further disclosed that in 2025 alone it reduced its gantry prices on no fewer than eight occasions, increasing them only twice, a move it described as rooted in economic patriotism and its responsibility to Nigerians.

“We remain committed to ensuring that any cost advantages are passed on to consumers across the 36 states and the Federal Capital Territory,” the statement added.

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