Abuja, June 2026 — Actual retail prices of Premium Motor Spirit (PMS) in major Nigerian cities were lower than indicative pump prices in May 2026, according to data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The regulator said indicative prices were based on an average Nigerian Foreign Exchange Market rate of ₦1,370.82 to the dollar and a Brent crude benchmark of $107.56 per barrel, reflecting global cost pressures that did not fully translate into retail pricing.
However, actual pump prices across monitored cities remained below the indicative benchmarks, indicating improved domestic supply conditions.
In Lagos, the indicative price stood at ₦1,378.69 per litre, while the actual average price was ₦1,317.00. Abuja recorded ₦1,340.50 against an indicative ₦1,427.69. In Kano, the actual price averaged ₦1,365.00 compared to ₦1,455.43.
Other cities followed the same trend, including Maiduguri at ₦1,408.00 against ₦1,472.43 and Sokoto at ₦1,372.00 compared to ₦1,452.34.
The widest gaps were recorded in Kano and Abuja, while Ibadan showed the narrowest difference.
Maximum retail prices ranged between ₦1,350 and ₦1,440 per litre across the cities, while minimum prices were as low as ₦1,272 per litre in Lagos.
The NMDPRA attributed the pricing pattern to increased domestic fuel availability, supported by stronger refining output.
Daily petrol supply averaged 47.4 million litres in May, slightly above consumption levels of 46.3 million litres, resulting in improved stock levels of 16 days sufficiency at the end of the month.
The Dangote Refinery, which operated at 101.25 percent capacity utilization during the period, was a major contributor to local supply, alongside modular refineries.
State-owned refineries in Port Harcourt, Warri, and Kaduna remained non-operational.
The regulator said the combination of higher domestic production and reduced reliance on imports has begun to stabilize market prices despite elevated global crude oil costs.
