Top 10 Most Expensive States to Buy Fuel as of October 2024

The price of Premium Motor Spirit (PMS), commonly referred to as petrol, has experienced a sharp increase over the past year, reaching an average cost of N1,184.83 per liter nationwide as of October 2024. Naija247news understands that this represents an 87.88% rise in petrol prices compared to October 2023, according to the latest data from the National Bureau of Statistics (NBS).

The NBS Premium Motor Spirit Price Watch report also revealed a 14.98% month-on-month increase in petrol prices, climbing from N1,030.46 in September 2024 to the current national average of N1,184.83 in October.

Naija247news gathered that fuel prices vary significantly across the country’s 36 states, with consumers in some regions paying considerably more for petrol. The discrepancy in fuel costs often translates to higher operational expenses for businesses and households, particularly in states with already inflated prices. Given Nigeria’s heavy dependence on petrol-powered generators and vehicles due to unreliable electricity supply, the rising costs further exacerbate economic challenges.

Below are the top ten most expensive states for petrol in October 2024, based on NBS data:

10. Imo State – N1,237.48

Naija247news understands that Imo State residents paid an average of N1,237.48 per liter for petrol, slightly above the national average. The high fuel prices have driven up the cost of living and operational expenses in the state.

9. Taraba State – N1,243.9

Naija247news gathered that Taraba State, located in the Northcentral region, recorded an average petrol price of N1,243.9 per liter, ranking ninth among the most expensive states.

8. Bayelsa State – N1,250

According to Naija247news, Bayelsa State, in the South-South region, had an average petrol price of N1,250 per liter, placing it among the top states with high fuel costs in October 2024.

7. Cross River State – N1,255.56

Residents of Cross River State paid N1,255.56 per liter of petrol on average, making it the seventh most expensive state for fuel in the country. Naija247news gathered that this price significantly impacts business operations and household budgets.

6. Akwa Ibom State – N1,258.3

Naija247news understands that Akwa Ibom State closely followed Cross River in fuel pricing, with residents paying an average of N1,258.3 per liter in October 2024.

5. Abia State – N1,278.125

In Abia State, the average petrol price was recorded at N1,278.125 per liter, according to Naija247news. This makes it the fifth most expensive state for petrol during the review period.

4. Anambra State – N1,283.13

Naija247news gathered that residents of Anambra State, a Southeast region, paid N1,283.13 per liter, making it the fourth most expensive state for fuel in October 2024.

3. Borno State – N1,283.7

In the Northeast, Borno State ranked as the third most expensive state for petrol. Naija247news understands that residents paid an average of N1,283.7 per liter last month.

2. Jigawa State – N1,288.18

Naija247news gathered that Jigawa State, in the Northwest, emerged as the second most expensive state for petrol, with an average price of N1,288.18 per liter in October 2024.

1. Ebonyi State – N1,292.8

Ebonyi State topped the list as the most expensive state for petrol in Nigeria as of October 2024. According to Naija247news, residents paid an average of N1,292.8 per liter, the highest recorded nationwide.

Naija247news understands that these rising petrol prices significantly impact the cost of goods and services, particularly in states with already high prices, as businesses and households grapple with increased operational expenses.

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Reporting by Agnes Ekebuike Editor, Naija247news in Lagos, Nigeria.