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States With Highest And Lowest Prices Of Petrol In Nigeria
States With Highest And Lowest Prices Of Petrol In Nigeria....KINDLY READ THE FULL STORY HERE▶
Following President Bola Tinubu’s decision to terminate the fuel subsidy regime in May 2023, the nation experienced an immediate surge in petrol prices nationwide.
President Tinubu had declared the removal of petrol subsidy in his inaugural address last year, triggering a widespread increase in fuel costs across the nation and subsequent inflation, as the prices of essential commodities, including food, soared.
The latest PMS (Premium Motor Spirit) price watch released by the National Bureau of Statistics (NBS) in Abuja revealed a staggering surge in the average retail price paid by fuel users, marking a significant increase of over 157 percent within a year.
According to the NBS report, the price of fuel surged from N263.76 in February 2023 to N679.36 in February 2024, representing a notable increment of 157.57 percent.
The report further detailed that, on average, petrol users in Zamfara State bear the brunt of the highest prices, currently paying as much as N750.43 per litre, while those in Kwara State benefit from the lowest rates at N650 per litre.
The NBS report elaborated: “Similarly, when comparing the average price value with the previous month (January 2024), the average retail price also witnessed a 1.66 percent increase from N668.30.” “In terms of regional distribution, the North West Zone recorded the highest average retail price of N701.20, whereas the South West Zone boasted the lowest price at N657.20.
“Analyzing the state-specific data, Zamfara State stood out with the highest average retail price of fuel at N750.43, followed by Kebbi and Taraba States with N746.67 and N710.56, respectively.” “Conversely, Kwara, Ogun, and Benue states emerged with the lowest average retail prices for fuel, priced at N650.00, 650.83, and 652.73, respectively.
States with the highest average prices:
- Zamfara – N750.67
- Kebbi – N746.67
- Taraba – N710.56
States with the lowest average prices:
- Kwara – N650
- Ogun – N650.83
- Benue – N652.73
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Source: Bushradiogist
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