Nigeria’s average pump price for Premium Motor Spirit (PMS) declined further in January 2026, offering modest relief to motorists as fuel costs continue to ease across the country.

Latest figures from the National Bureau of Statistics show that the national average retail price dropped to ₦1,034.76 in January. This represents a year-on-year decline of nearly 18 percent compared with January 2025, as well as a month-on-month reduction from December 2025.

The data confirms that petrol prices have been on a steady downward path. Compared to December, the average price slipped by just over one percent, reinforcing a trend that began late last year.

Prices, however, varied significantly by state. Cross River recorded the highest average pump price in January, with Rivers and Nasarawa also ranking among the most expensive. In contrast, Ekiti, Enugu and Kaduna posted the lowest average prices, all below ₦950 per litre.

A regional breakdown shows similar disparities. The South-South zone had the highest average petrol price nationwide, while the South West recorded the lowest regional average, highlighting persistent differences in fuel distribution and pricing across zones.

The January figures follow a similar pattern seen in December 2025, when petrol prices also fell both year-on-year and month-on-month, suggesting that the easing in pump prices is not a one-off development.

Analysts say the sustained decline could help reduce transport costs, ease pressure on household spending and provide some support to economic activity, even as consumers continue to grapple with broader cost-of-living challenges.