Business Hilights

Tracking Nigeria's Headline Business News Online

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Prohibitive prices of kerosene, diesel dealt with industries, households in Jan.—NBS

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One of the key revelations of the latest data from the National Bureau of Statistics (NBS) showed that the price of kerosene increased month-on-month (MoM) by 5.35 percent to N306.28 per litre last month from N290.74 in December 2018 while the price of diesel rose MoM by 1.59 percent to N225.09 from N221.56.

Within the period, the average price consumers paid for petrol also known as premium motor spirit (PMS) decreased marginally by 0.1 percent MoM to N145.70 in January from N145.80 while the price of cooking gas declined by 0.63 percent MoM to N2,039.82 in January 2019 from N2,052.79 in December 2018.

According to the agency, “Average price per litre paid by consumers for National Household Kerosene increased by 5.35 percent month-on- month to N306.28 in January 2019 from N290.74 in December 2018.

“States with the highest average price per litre of kerosene were Abuja (N350.57), Enugu (N344.58), and Jigawa (N341.31). Also, States with the lowest average price per litre of kerosene were Lagos (N260.78), Taraba (N265.67) and Niger (N253.47).”

“Similarly, average price paid by consumers for automotive gas oil (diesel) saw an increase by 1.59 percent month-on-month and 5.27 percent year-on-year to N225.09 in January 2019 from to N221.56 in December 2018.

“States with the highest average price of diesel were Kwara (N249.00), Borno (N243.67) and Ebonyi (N239.29).

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