Nigerians have paid prices for the consumption of petrol 17.93% higher than what they paid at the same period of October, last year.
This was disclosed on Tuesday by the National Bureau of Statistics, which compared prices paid by consumers of the product in October 2021 and October 2022.
“The average retail price paid by consumers for Premium Motor Spirit (Petrol) for October 2022 was N195.29, indicating a 17.93% increase when compared to the value recorded in October 2021 (N165.60),” NBS disclosed It said that in the same vein, comparing the average price value with the previous month (.i.e. September 2022), the average retail price increased by 1.90% from N191.65. It said that “On State profile analysis, Kebbi state had the highest average retail price for Premium Motor Spirit (Petrol) with N211.00, followed by Kano with N210.14 and Gombe with N210.00.”
It explained that Sokoto, on the other hand, “had the lowest average retail price for Premium Motor Spirit (Petrol) with N185.00, followed by Taraba with N185.42 and Abia with N186.56.” Giving breakdown on zonal basis, the analysis by showed that the North-West recorded the highest average retail price in October 2022 with N198.28, the South-West had the lowest with N192.42.
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