Federal finance and statistics / National Bureau of Statistics

Premium Motor Spirit (Petrol) Price Watch (January 2024)

Executive Summary The average retail price paid by consumers for Premium Motor Spirit (Petrol) for January 2024 was N668.30, indicating a 159.92% increase when compared to the value recorded in January 2023 (N257.12). Likewise, comparing the average price value with the previous month (i.e. December 2023), the average retail price decreased by 0.53% from N671.86. On State profile analysis, Kebbi State had the highest average retail price for Premium Motor Spirit (Petrol) at N796.67, Zamfara and Taraba States were next, with N771.43 and N704.11, respectively. On the other side, Kwara, Niger and…