Nigerians Spent N1.58tn on Petrol During Yuletide — Report

Nigerians spent an estimated N1.58 trillion on petrol in December 2025, reflecting heightened fuel consumption during the Yuletide period, according to official data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The authority’s December fact sheet showed that average daily petrol consumption rose to 63.7 million litres throughout the month. With 31 days in December, total nationwide petrol usage was estimated at 1.97 billion litres, marking one of the highest monthly consumption levels recorded in recent times.

The surge in petrol demand was largely attributed to increased travel, festive movements, and heightened commercial activities associated with the end-of-year celebrations. Applying an average pump price of about N800 per litre, which prevailed across major cities during the period, total consumer spending on petrol in December was estimated at N1.58 trillion.

Although the Dangote refinery implemented a price reduction in December, lowering pump prices from about N900 to N739 per litre, the impact was uneven nationwide. While some outlets, including MRS stations in Lagos and parts of Ogun State, reflected the price drop, many filling stations—particularly in northern Nigeria—continued to sell petrol above N800 per litre during the festive season.

December typically records higher fuel usage compared to other months due to holiday travel, increased logistics activities, and greater reliance on petrol-powered generators by businesses amid power supply challenges. These seasonal factors contributed significantly to the elevated consumption and spending levels recorded in the month.

NMDPRA data further revealed that the December 2025 daily consumption figure was the highest since October 2024 and significantly higher than the 52.3 million litres per day recorded in December 2024. Supply during the month came from both imports and domestic refining, with Nigeria importing about 1.31 billion litres of petrol, while the Dangote refinery supplied 992 million litres.

The N1.58 trillion expenditure highlights the heavy cost burden of petrol on households and businesses, underscoring the continued impact of fuel prices in Nigeria’s fully deregulated downstream petroleum market.