Petrol and cooking gas prices declined year-on-year in December 2025, signalling a gradual easing of household energy costs, according to separate reports released by the National Bureau of Statistics (NBS).

Naija News reports that data from the bureau showed that both Liquefied Petroleum Gas (LPG), commonly used for cooking, and Premium Motor Spirit (PMS), also known as petrol, recorded notable price reductions compared with December 2024, alongside modest month-on-month declines.

The NBS noted that while the downward trend was observed across most states and geopolitical zones, prices continued to vary widely depending on location.

5kg Of Cooking Gas Price Drops By 25%
According to the report, the average price for refilling a 5kg cylinder of LPG declined by 1.20 per cent month-on-month, falling from ₦5,425.78 in November 2025 to ₦5,360.43 in December 2025.

On a year-on-year basis, the price fell sharply by 25.31 per cent, down from ₦7,177.27 recorded in December 2024.

Confirming the trend, the NBS stated, “The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) decreased by 1.20 per cent on a month-on-month basis,” adding that the year-on-year decline stood at 25.31 per cent.”

A state-level analysis showed that Kaduna recorded the highest average price for refilling a 5kg cylinder at ₦5,838.66, followed by Jigawa at ₦5,825.09 and Osun at ₦5,777.80.

On the lower end, Katsina recorded the cheapest average price at ₦4,855.80.

Similarly, the average retail price for refilling a 12.5kg cylinder of LPG fell by 0.74 per cent month-on-month, declining from ₦13,538.79 in November 2025 to ₦13,438.90 in December 2025.

Year-on-year, the price dropped by 22.20 per cent from ₦17,274.16 recorded in December 2024.

On a state-by-state basis, Abia recorded the highest average price for refilling a 12.5kg cylinder at ₦14,489.96, followed by Osun at ₦14,444.50 and Delta at ₦14,393.17, the bureau said.

Petrol Price Dips To ₦1,048
The NBS also reported a decline in the average retail price of petrol.

According to the report, the average price of Premium Motor Spirit stood at ₦1,048.63 in December 2025, representing an 11.81 per cent decrease compared with ₦1,189.12 recorded in December 2024.

The bureau stated, “The average retail price paid by consumers for Premium Motor Spirit (Petrol) for December 2025 was ₦1,048.63.”

On a month-on-month basis, petrol prices declined by 1.20 per cent, down from ₦1,061.35 recorded in November 2025.

Further analysis showed that Kogi State recorded the highest average petrol price at ₦1,104.45, while Oyo State had the lowest at ₦996.55.

Regionally, the North East emerged as the most expensive zone for petrol, while the South West recorded the lowest average prices.

Nigeria’s naira recorded one of its strongest performances in months on Tuesday, January 27, 2026, appreciating sharply against the US dollar at the official foreign exchange window amid improving liquidity and rising confidence in the country’s FX reforms.

The local currency strengthened to around ₦1,400 per dollar at the official market, marking its firmest level since the Central Bank of Nigeria (CBN implemented sweeping FX reforms.

The move signals easing pressure on the naira and renewed optimism among investors and market participants.

According to the CBN’s daily foreign exchange report, the naira closed at ₦1,401.22 per dollar, representing a 1.27 percent appreciation on the day.

Market operators described the move as a reflection of improved dollar supply and stronger participation by banks and other authorised dealers.

Traders said the official window saw increased volumes, with the improved liquidity helping to narrow volatility and reduce speculative demand.

The latest performance reinforces the view that the reforms aimed at unifying exchange rates and improving price discovery are beginning to yield results.

The positive momentum extended to the parallel market, where the naira also posted modest gains.

Channel checks showed the local currency appreciating by about 0.33 per cent to trade around ₦1,476 per dollar. While the gap between the official and parallel rates remains, analysts say the narrowing spread reflects improving confidence across both the regulated and informal segments of the FX market.

According to a report by MarketForces Africa, reduced arbitrage opportunities and stronger supply conditions are helping to stabilise pricing.

The naira’s rally comes against the backdrop of rising external reserves, which have strengthened the CBN’s ability to intervene when necessary and support market liquidity.

Higher reserves are widely viewed as a key confidence signal for foreign investors, particularly portfolio investors who remain sensitive to currency risk.

Market watchers say consistent inflows from export earnings, improved remittance flows, and cautious monetary management have all contributed to the improved outlook for the naira in recent weeks.

The Nigerian naira strengthened against the US dollar at the official foreign exchange window on Tuesday, supported by strong dollar supply and muted international payment demands, according to a daily FX update from the Central Bank of Nigeria (CBN).

At the Nigerian Foreign Exchange Market (NFEM), the naira appreciated by 7 basis points, or 94 kobo, to close at N1,419.35 per dollar.

Trading data showed the currency exchanged within a narrow band of N1,421 to N1,418.40, reflecting steady liquidity conditions.

Market operators said the appreciation was driven largely by improved dollar supply from non-bank corporates, exporters, and foreign portfolio investors, which outpaced FX requests submitted for foreign payments during the session.

The naira’s modest gain coincided with renewed weakness in the US dollar on the global forex market, triggered by escalating geopolitical tensions involving President Donald Trump’s renewed push to take control of Greenland.

The greenback came under pressure after Trump said there was “no going back” on his Greenland campaign, a stance that has strained relations between the United States and its European allies.

Although he signalled openness to talks, markets interpreted the comments as a precursor to deeper transatlantic friction.

As investors moved into safe-haven assets, the dollar fell 0.8 per cent against the euro, while the S&P 500 declined about 1.7 per cent.

Nigeria’s external reserves continued their upward trend, rising by $49.34 million to reach $45.95 billion, further reinforcing confidence in near-term FX stability.

Analysts expect the naira to remain relatively firm in the short term, supported by higher oil receipts, improved foreign portfolio investment inflows, and consistent FX management by the CBN.

However, the picture was mixed across markets. In the parallel market, the naira weakened slightly by 0.02 per cent to trade around N1,481 per dollar, reflecting lingering speculative pressures