Diesel prices surge by 50 per cent in Nigeria — NBS Reports

The National Bureau of Statistics (NBS) has reported a significant increase in the retail price of diesel across Nigeria.

According to the Diesel Price Watch for February 2024 released in Abuja on Wednesday, the price per litre surged from N836.91 in February 2023 to N1,257.06 in February 2024, marking a substantial 50.20 per cent increase.

The report further revealed that on a month-on-month basis, the price witnessed a 9.02 per cent rise from N1,153.01 per litre recorded in January 2024.

In a state profile analysis, Akwa Ibom topped the list with the highest diesel price at N1,525 per litre, followed closely by Gombe State at N1,500 per litre and Kwara at N1,444 per litre.

Conversely, Adamawa recorded the lowest diesel price at N1,037.50 per litre, trailed by Kano at N1,111.43 per litre and Katsina State at N1,125 per litre.

Regional analysis revealed that the South-South region experienced the highest diesel price at N1,343.09 per litre, while the Southwest region recorded the lowest at N1,164.05 per litre.