The average retail price paid by consumers for petrol rose by 54.52 per cent in January, the National Bureau of Statistics (NBS) has said.
The bureau said this in its “Premium Motor Spirit (Petrol) Price Watch” for January 2023 released on its website.
The NBS said the average retail price paid by consumers for petrol for January 2023 was N257.12, indicating a 54.52 per cent increase relative to the value recorded in January 2022 (N166.40).
The bureau also said that comparing the average price value with the previous month (.i.e. December 2022), the average retail price increased by 24.70 per cent from N206.19.
On state profile analysis, the report said Imo state had the highest average retail price for petrol, at N332.14, followed by Rivers at N327.14 and Akwa Ibom at N319.00.
On the other hand, Sokoto recorded the lowest average retail price for petrol at N191.43, followed by Plateau at N192.14 and Borno at N193.91.
The NBS said that the highest average retail…
