The worth of Premium Motor Spirit (PMS), generally known as petrol, has witnessed a big surge over the previous 12 months, reaching a median of N1,184.83 nationwide as of October 2024.
Based on the newest knowledge from the Nationwide Bureau of Statistics (NBS), petrol costs have risen by 87.88% between October 2023 and October 2024.
The Premium Motor Spirit Worth Watch report revealed that the commodity’s value jumped by 14.98%, from N1,030.46 in September 2024 to N1,184.83 in October 2024.
Nonetheless, gasoline costs differ throughout Nigeria’s 36 states, inflicting customers in some areas to pay extra for petrol.
Given Nigeria’s heavy reliance on petrol-powered turbines and automobiles as a result of inconsistent electrical energy provide, increased gasoline costs in sure states typically result in elevated operational prices for companies and households.
This, in flip, drives up the price of items and companies in these areas.
Under are the highest ten states the place customers paid essentially the most for petrol as of October 2024, listed from the bottom to the very best.
10. Imo State
Imo State continues to have excessive petrol costs, with residents paying a median of N1,237.48 per liter in October 2024.
Whereas barely above the nationwide common, this value is among the many highest throughout the 36 states, driving up dwelling prices and operational bills for each households and companies within the state.
9. Taraba State
Taraba State ranks ninth on the checklist of states with the very best petrol costs as of October 2024.
The NBS knowledge reveals that residents on this Northcentral state paid a median of N1,243.9 per liter of petrol final month.
8. Bayelsa State
Bayelsa State is likely one of the most costly states for petrol in October 2024.
Based on the Premium Motor Spirit Worth Watch report, the typical value of petrol within the state was N1,250 per liter.
7. Cross River State
Cross River State ranks seventh among the many states with the very best gasoline costs in Nigeria as of October 2024.
The report signifies that residents of this South-South state paid N1,255.56 per liter of petrol on common through the month.
6. Akwa Ibom State
Akwa Ibom State, one other South-South state, carefully follows Cross River in gasoline pricing.
The NBS knowledge reveals that residents paid a median of N1,258.3 per liter of petrol in October, making it the sixth most costly state for petrol within the nation.
5. Abia State
Abia State ranks fifth amongst states with the very best petrol costs in October 2024.
The info reveals that residents within the state paid a median of N1,278.125 per liter through the month.
4. Anambra State
Anambra State ranks fourth on the checklist, with residents paying N1,283.13 per liter of petrol in October 2024.
3. Borno State
3. Borno State
Borno State, within the Northeast, is the third most costly state for petrol in October 2024.
