Average Petrol Price in Nigeria Soars to N679.36 per Litre, NBS Reports

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The National Bureau of Statistics (NBS) has reported a significant surge in the average retail price of petrol, with the price per litre soaring from N263.76 in February 2023 to N679.36 in February 2024.

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Released in Abuja on Wednesday, the NBS Petrol Price Watch for February 2024 highlighted a staggering 157.57% increase compared to the previous year’s price.

According to the report, the average retail price experienced a 1.66% uptick from N668.30 in January 2024. Among states, Zamfara topped the list with the highest average retail price of N750.43 per litre, followed by Kebbi and Taraba at N746.67 and N710.56, respectively.

In contrast, Kwara, Ogun, and Benue recorded the lowest average retail prices at N650.00, N650.83, and N652.73, respectively.

Zone-wise analysis revealed that the North-West zone had the highest average retail price in January 2024 at N701.20, while the South-West had the lowest at N657.20 per litre.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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