The National Bureau of Statistics (NBS) has reported a significant rise in the average retail price of a liter of petrol, soaring from N257.12 in January 2023 to N668.30 in January 2024.
This revelation was made in the NBS’s Petrol Price Watch for January 2024, which was issued in Abuja on Thursday, February 22. The bureau highlighted that the January 2024 price of N668.30 reflected a staggering 159.92 percent surge compared to the N257.12 recorded in January 2023.
“Compared to the average price value of the previous month, December 2023, the average retail price experienced a modest increase of 0.53 percent, rising from N671.86,” the report stated.
Upon analysis based on state profiles, Kebbi emerged as the state with the highest average retail price, purchasing petrol at N796.67 per liter. Following closely were Zamfara and Taraba, with prices of N771.43 and N704.11, respectively.
Conversely, Kwara, Niger, and Kogi recorded the lowest average retail prices, with figures standing at N614.90, N624.04, and N626.79 per liter, respectively.
