Nigeria’s 8-month Petrol Demand Slumps to 11.7bn Litres Amid Rising Pump Prices
Emmanuel Addeh in Abuja Nigeria consumed about 11.7 billion litres of petrol between January and August 2026, as demand weakened steadily, amid rising pump prices caused mainly by the ongoing
In Nigeria between January and August 2026, petrol consumption dropped to 11.7 billion litres as motorists and businesses consumed less fuel amid rising pump prices driven by the ongoing US-Iran conflict. National average daily consumption fell from 54.7 million litres in Q1 to 48.2 million litres in Q2, and then further to 38.6 million litres in Q3.
This decline coincided with escalating petrol prices, which in Lagos rose from N804.50 per litre in January to N1,291.11 in August, while in Abuja they increased from N819.50 to N1,367.85. Meanwhile, domestic refining stepped up to meet demand, with the Dangote Petroleum Refinery becoming the leading source of locally refined petrol, with capacity utilisation peaking at 105.21 per cent in August.
However, import reliance rebounded in June and July, when imports rose to 19.7 million litres per day and domestic refining shares fell. National petrol stock cover began the year at 33 days but declined to 16 days in May before recovering to 22.9 days by August. Despite these fluctuations, Nigeria's fuel security remained below the NMDPRA's 30-day minimum threshold.
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