Nigerians spent a staggering N11.3tn on petrol between January and July 2026, even as the volume of fuel consumed across the country continued to fall. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that about 10.37 billion litres of Premium Motor Spirit (petrol) entered the domestic market during the seven-month period, highlighting the growing financial pressure placed on households, businesses and transport operators.
The figures show that Nigerians spent more than N1tn on petrol every month during the period. Petrol sold at an average of N830 per litre in January and February before climbing to N1,100 in March, N1,250 in April and N1,300 in May. Although the average price eased to N1,200 in June and July, the damage to consumers’ pockets remained significant. In January alone, about 1.87 billion litres were consumed at a cost of N1.55tn, while July recorded the lowest volume at 1.11 billion litres, yet Nigerians still spent about N1.33tn.
The sharp rise in petrol prices has also changed how Nigerians consume fuel. Average daily petrol consumption dropped to 35.7 million litres in July, representing a 24.7 per cent decline from June’s 47.4 million litres. The July figure was also 24.4 per cent lower than the 47.2 million litres recorded in the same month of 2025 and 44 per cent below the 63.7 million litres per day recorded at the peak in December 2025.
While petrol demand weakened, other petroleum products recorded stronger performance. Diesel consumption reached 14.7 million litres per day in July, slightly above its 14 million-litre benchmark, while Liquefied Petroleum Gas, or cooking gas, reached 4.4 kilotonnes per day against a 3.9-kilotonnes benchmark. Aviation fuel, however, moved in the opposite direction, with daily consumption falling to 1.7 million litres, 43.3 per cent below its three-million-litre benchmark.
The figures have renewed calls for government intervention as the impact of high energy costs continues to ripple through transportation, food prices and household expenses. Energy experts have backed targeted measures to cushion consumers but warned against returning to the old blanket subsidy system. They have instead called for greater transparency, improved mass transportation and stronger alternatives such as compressed natural gas. With petrol consumption falling but Nigerians still spending trillions of naira on fuel, the latest data underscores just how heavily the cost of energy continues to weigh on the Nigerian economy.
source: punch
