Nigeria records 15.6% year-on-year drop in petrol prices as energy relief emerges – NBS
Uchechi Okporie
Apr 29, 2026
3 min read
Next Africa Daily reports that Nigeria has recorded a 15.6% year-on-year decline in petrol prices, according to new data released by the National Bureau of Statistics (NBS), marking a significant shift in the country’s energy cost trend.
The latest figures indicate that average pump prices have eased compared to the same period last year, offering some relief to consumers and transport operators who have been heavily affected by volatile fuel costs and broader inflationary pressures.
The development reflects ongoing adjustments in Nigeria’s downstream petroleum sector, where pricing has increasingly been influenced by global crude movements, exchange rate fluctuations, and domestic supply reforms.
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Economists note that the decline may help soften transport and production costs across key sectors, although they caution that the broader impact on inflation will depend on currency stability and sustained supply consistency.
As Africa’s largest oil producer continues to navigate energy reforms, the latest price drop is being closely watched as a potential indicator of gradual stabilization in the country’s fuel market.
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