States With Highest And Lowest Prices Of Petrol In Nigeria

The termination of the fuel subsidy regime by President Bola Tinubu in May 2023, resulted in the immediate increase in the price of petrol across the country.

Naija News recalls President Tinubu, during his inauguration speech last year, announced the removal of subsidy on petrol, which led to an increase in fuel price across the country and subsequent inflation as the price of food and other commodities skyrocketed.

The National Bureau of Statistics (NBS), in its latest PMS (Premium Motor Spirit) price watch released in Abuja on Wednesday, announced that the average retail price paid by users of fuel skyrocketed by more than 157 per cent in one year.

According to the NBS report, fuel price increased from N263.76 in February 2023 to N679.36 in February 2024, which translated to 157.57 percent increment.

The report disclosed that on the average, petrol users in Zamfara State currently pay the highest price at N750.43 per litre, while users in Kwara State enjoy the lowest rate of N650 per litre.

The report said: “Likewise, comparing the average price value with the previous month (.i.e. January 2024), the average retail price also increased by 1.66 percent from N668.30.” “On the zonal profile, the North West Zone had the highest average retail price of N701.20, while the South West Zone had the lowest price of N657.20.

“On state profile analysis, Zamfara State had the highest average retail price of fuel, at N750.43, while Kebbi and Taraba States were next, with N746.67 and N710.56, respectively. “Kwara, Ogun and Benue states had the lowest average retail prices for fuel 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 – 652.73