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NBS Reveals Places In Nigeria With High Costs Of Kerosene

The recent reports by the Nigerian Bureau of Statistics (NBS) indicated that the Federal Capital Territory (FCT), Abuja is at the top of the list of places in Nigeria where the retail price of kerosine costs the most.

The agency consequently reported that the national cost of the petroleum products increased to N1,362.27 per liter, signifying a rise of N75.17 in comparison to the N1,287.10 recorded in November 2023.

The Nigerian Bureau of Statistics’ most recent report, National Household Kerosene Price Watch (December 2023), which was received earlier this week, had all of these facts.

According to the report, the increase increased from N1,104.61 in December 2022 to a 23.33 percent annual rate.

An in-depth state analysis unveiled a disparity in prices across the nation.

NBS notes, “Abuja led the pack with the highest average price per litre at N1,650.00, closely trailed by Ogun at N1,609.52 and Benue at N1,594.44.

“Conversely, Kwara emerged with the lowest price recorded at N917.14, followed by Rivers with N969.70 and Nassarawa with N1,071.43”.

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The average retail price per litre of home kerosene in the southwest was N1,455.21, according to an NBS analysis based on geographic zones.

Southeast recorded the lowest at N1,264.49, with the northwest following closely at N1,420.48.

Turning their attention to the costs per gallon, NBS reported that, in December 2023, consumers paid an average of N4,529.92 for home kerosene, which represents a minor decrease of 1.17% from the N4,583.44 recorded in November 2023.

This was a significant gain of 20.69 percent on an annual basis from N3,753.38 in December 2022.

The state-level analysis for per-gallon prices revealed Bauchi topping the list at N5,600.00, trailed by Lagos at N5,273.53 and Ekiti at N5,234.38. Conversely, Delta recorded the lowest price at N3,234.29, followed by Bayelsa and Kaduna with N3,538.03 and N3,560.00, respectively.

“Zone-wise, the North-East led with the highest average retail price per gallon of Household Kerosene at N5,077.08, closely followed by the South West at N5,014.48.

In contrast, the South-South recorded the lowest average price per gallon at N3,957.17, rounding off the challenging pricing landscape for consumers in the final month of 2023”, NBS said.

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