May 28, 2022

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Comparison of Price of Petrol for March 2017 of Four Major States in Nigeria

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The price of petrol data released by National Bureau of Statistics shows that the states with the lowest petrol price are Ogun NGN144.9 as well as Abuja, Delta, Ekiti, Gombe, kano, kwara and Osun which are NGN145.0. However, the states with the highest average PMS prices are Yobe, Bayelsa and Enugu which are NGN161.7, NGN161.3 and NGN154.5 respectively.

Mainly four major states in Nigeria -Abuja, Kano, Lagos and Rivers states shows this trend from March 2016 to March 2017.
Month    Abuja      Lagos     Kano      Rivers
March    104.9     90.1        124.3       133.7
April       107         92.6        165.1       174.3
May        145         144.8     145           150
June       145          145       145           148.5
July        145         145        144.6        151.5
August  145         145         145           147.7
Sept       143.3     144.3     145          147.3
Oct        146.3     144.9      146          146.9
Nov       144.6     144.3     145.6       147
Dec        145        144.3      148.5       145.1
Jan        144.2     152.1     145.8       145
Feb       145.0     144.9      145          151.1
March  145.0     147.5      145          151.3
Avg       116.6      137.3      145.4       149.2

From the data above, on 13 months average, Abuja has the lowest petrol price of NGN116.6 while Rivers state has the highest price of NGN149.2 for march 2016 to march 2017. For the month of June and August Abuja, Lagos and Kano has the same fuel price of N145.

According data provided by NBS, on year on year basis Abuja fuel price increased by 38.2% and 0.0% on MoM basis.

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Lagos increase YoY basis is 63.7% and 1.8% MoM. Kano increased 16.7% YoY and 0.0% MoM. On the other hand, Rivers was 13.2% YoY and 0.2% MoM.

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