Average Retail Price of Diesel Falls 9.32% Year-on-year to ₦1,361.57 in January — NBS Reports

By: Israel Adeleke

OPEN TELEVISION NAIJA (OTN) News reports that in the latest report of the National Bureau of Statistics, (NBS), the agency has disclosed the average retail price of Automotive Gas Oil (AGO), commonly known as diesel.

According to the report sighted by OTN News on Thursday evening, the average retail price of AGO, declined to ₦1,361.57 per litre in January 2026, right from ₦1,501.58 recorded in January 2025.

The NBS explained that the Automotive Gas Oil Price Watch report for January indicates that the drop represents a 9.32 percent year-on-year decrease. 

It added that on a month-on-month basis, the price also fell by 2.86 percent from ₦1,401.63 per litre in December 2025.

Explaining the diesel prices varied widely across states, the report explained that Lagos recorded the highest average price at ₦1,560.82 per litre, followed by Akwa Ibom at ₦1,558.52 and Borno at ₦1,480.00.

In contrast, the lowest average prices were recorded in Kogi (₦1,200.00), Ogun (₦1,230.52), and Zamfara (₦1,242.82) states.

Zonal analysis showed that the North East had the highest average price at ₦1,430.96 per litre, while the South East recorded the lowest at ₦1,288.20.

OTN News, however, observes that the report highlights ongoing regional disparities in diesel pricing, despite the overall decline recorded nationwide.