Nigerians spent at least ₦5.43 trillion on petrol in Q1 2026, according to analysis of data from the NMDPRA and the National Bureau of Statistics (NBS).
The figure covers 4.88 billion litres of PMS consumed between January and March, supplied by both the Dangote Refinery and imports. January consumption was 1.87 billion litres costing ₦1.93tr at an average price of ₦1,034.76 per litre.
In February, consumption fell to 1.59 billion litres, amounting to ₦1.67tr at ₦1,051.47 per litre. March saw a further decline to 1.42 billion litres, but spending rose to ₦1.82tr as average prices jumped to ₦1,288.54 per litre, driven by the U.S.–Iran war and rising crude costs.
Compared to Q4 2025, when Nigerians spent ₦5.60tr on 5.32 billion litres, Q1 2026 marked a 3.04% decline in spending and lower consumption.
The spending data comes amid a fresh legal battle, as the Dangote Refinery filed a suit against the Attorney-General of the Federation, seeking to nullify import licences granted to the NNPC and marketers.
Dangote argues imports should only be allowed when local supply is insufficient.
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) defended the licences.
“They are the legal instruments through which Nigeria’s fuel supply chain functions… They exist to protect supply security, not to disadvantage any single producer,” it says.
DAPPMAN warned that voiding licences would destabilise the downstream sector, noting members had invested billions in depots and logistics. It stressed that regulatory authority must not be overridden by private commercial interests.
Dangote maintains his refinery can meet demand, but marketers insist capacity is not yet sufficient.
The renewed dispute highlights tensions between local refiners and importers as Nigeria navigates deregulation and rising global energy costs.
COURTESY: economicconfidential.com
