Nigeria: Average Retail Price of Petrol in Nigeria Up 76% in December - NBS

23 January 2025
Premium Times (Abuja)
By Mary Izuaka

The NBS said the North East zone had the highest average retail price of N1245.90, while the South West zone had the lowest price of N1116.00.

The average retail price paid by consumers for petrol was up 76.99 per cent in December 2024, the National Bureau of Statistics (NBS) has said.

The bureau said this in its "Premium Motor Spirit (Petrol) Price Watch" for December 2024 released on Thursday.

The NBS said the average retail price paid by consumers for petrol for December 2024 was N1189.12, indicating a 76.99 per cent increase compared to the value recorded in December 2023 (N671.86).

The bureau also said that comparing the average price value with the previous month (.i.e. November 2024), the average retail price decreased by 2.06 per cent from N1214.17.

On state profile analysis, the bureau said Taraba state had the highest average retail price for petrol at N1307.05, Adamawa and Delta states were next, with N1301.33 and N1282.71, respectively.

It said Oyo state, Abuja, and Ogun state had the lowest average retail prices for petrol at N1088.75, N1102.25, and N1106.07 respectively.

On the zonal profile, the NBS said the North East zone had the highest average retail price of N1245.90, while the South West zone had the lowest price of N1116.00.

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