WATCH THE VIDEO HERE The average retail price of Premium Motor Spirit (petrol) in Nigeria has been steadily climbing since the removal of the fuel subsidy in 2023, affecting virtually all sectors of the economy. According to the latest report from the National Bureau of Statistics (NBS), the nation’s average petrol price was N769.62 in May 2024, a 9.75% increase from N701.24 in April 2024. On a year-on-year basis, the retail price soared by an astonishing 223.21%, up from N238.11 per litre in May 2023. Here are the top 10 states in Nigeria where petrol prices were the highest in May 2024, as per the NBS report: In May 2024, Adamawa State, located in the North West zone, saw petrol prices at N798.60 per litre. Borno State, also in the North West zone, had petrol prices averaging N800.32 per litre in May 2024. In Kaduna State, located in the North West, consumers paid an average of N815.94 per litre in May 2024. Taraba State, in the North East, saw average petrol prices at N818.35 per litre in May 2024. In Zamfara State, North West zone, petrol prices averaged N835.83 per litre in May 2024, marking a 10.81% increase from April’s average of N754.29. Sokoto State, in the North West, had consumers paying an average of N872.50 per litre in May 2024. Kebbi State, in the North West, saw petrol prices at N880 per litre in May 2024. In Benue State, North Central zone, consumers paid an average of N822.22 per litre in May 2024. Ondo State, in the South West zone, had petrol prices averaging N882.67 per litre in May 2024. Jigawa State, in the North West zone, ranked as the most expensive state for petrol in May 2024, with consumers paying an average of N937.50 per litre.
Most expensive states to buy fuel as of May 2024
