Nigeria’s energy inflation fee more than doubled on a year-on-year foundation to 10.85% in September 2026, rising sharply from 4.69% in August as energy worth pressures intensified throughout the nation.
The National Bureau of Statistics (NBS) disclosed this in its September 2026 Consumer Price Index (CPI) report, launched on Thursday, October 15, 2026, which confirmed a major acceleration in the annual fee of improve in energy costs.
The sharp rise in energy inflation got here regardless of a moderation in Nigeria’s total inflation fee, which eased to 14.63% in September from 15.39% in August, highlighting the divergence between energy prices and broader client worth actions.
Energy inflation surges 131.34% in September
According to the NBS, energy inflation elevated by 6.16 proportion factors between August and September, representing a 131.34% surge in the annual fee inside one month.
- On a month-on-month foundation, energy inflation rose to 5.38% in September, reversing the 0.36% decline recorded in August. This signifies a renewed improve in energy costs following the marginal discount noticed in the previous month.
An evaluation by Nairametrics of the NBS month-to-month CPI experiences exhibits that energy inflation has skilled appreciable volatility all through 2026, with intervals of sharp will increase adopted by important declines.
- The 12 months started with energy inflation at 11.17% in January earlier than accelerating to 12.90% in February, its highest degree in the primary 9 months of 2026.
- The fee subsequently moderated to 9.90% in March and declined additional to 4.60% in April, earlier than recovering barely to 5.73% in May.
- Energy inflation climbed once more to 9.90% in June however fell to 4.40% in July, its lowest studying throughout the interval.
- August recorded a marginal improve to 4.69%, earlier than the speed more than doubled to 10.85% in September, marking the sharpest month-to-month acceleration in the annual inflation fee thus far this 12 months.
The newest figures present that September recorded the third-highest annual energy inflation fee in the primary 9 months of 2026, behind February and January.
They additionally point out that the renewed strain on energy costs has interrupted the comparatively low inflation readings recorded in July and August.
Petrol costs rise amid Middle East battle
The renewed acceleration in energy inflation comes amid sustained will increase in home gas costs following the outbreak of the conflict involving Iran, Israel and the United States, which has disrupted international oil markets and pushed up crude oil costs.
- Before the Middle East battle started, petrol offered for roughly N830 per litre in Nigeria. However, costs have since climbed above N1,400 per litre in a number of components of the nation.
- In September, Nairametrics reported that filling stations in Lagos offered petrol for between N1,400 and N1,430 per litre, whereas costs in Abuja ranged from N1,400 to N1,450 per litre.
- The improve represents an increase of roughly 69% to 75% from the pre-war worth of N830 per litre, including strain to transportation prices and family spending.
The affect of rising energy prices can also be mirrored in the Central Bank of Nigeria’s (CBN) July 2026 Inflation Expectations Survey, which recognized energy expenditure as a serious concern for companies and households.
According to the survey, 60.9% of companies reported increased spending due to inflation, in contrast with 55.9% of households.
Energy-related bills, together with petrol, diesel and electrical energy, ranked highest among the many components influencing inflation perceptions, scoring 74.1 points among businesses and 61.9 points among households.
The findings underscore the numerous burden of energy prices on Nigerians, notably as increased gas and electrical energy bills have an effect on enterprise operations, transportation and family funds.
FG introduces 30-day petrol low cost
The Federal Government has lately launched measures aimed toward lowering petrol prices and easing the strain of excessive gas costs on customers, notably public transport operators.
However, the association has attracted considerations from impartial oil entrepreneurs, who argue that limiting the low cost to NNPC retailers may prohibit its advantages, notably in communities with restricted entry to the corporate’s retail stations.
Representatives of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have consequently urged the federal government to prolong the programme from 30 to 60 days and accommodate independent marketers to improve nationwide distribution.
