The newest report from the Nationwide Bureau of Statistics (NBS) highlights a major improve within the worth of kerosene, inserting further pressure on family budgets.
The report, a part of the NBS’s worth watch sequence, reveals that the value of kerosene has risen each month-on-month and year-on-year.
Residents within the North Central area are paying the best common retail costs, with Abuja, Kaduna, and Akwa Ibom topping the listing.
In October 2024, the typical retail worth of Family Kerosene (HHK) reached N1,957.44 per litre, marking a 3.07% improve from the N1,897.12 recorded in September 2024. 12 months-on-year, the value has risen by 54.81%, up from N1,303.16 in October 2023.
The value per gallon of kerosene additionally noticed an increase, rising by 1.94% from N6,818.11 in September to N6,949.75 in October 2024. In comparison with October 2023, this represents a 51.68% improve from N4,581.89.6State-wise knowledge reveals that Abuja recorded the best common worth per litre, at N2,875.00, adopted by Akwa Ibom at N2,518.89 and Kaduna at N2,500.79. The bottom costs have been present in Borno, with N1,500.30, Bayelsa at N1,500.67, and Adamawa at N1,679.19.
On a regional stage, the North Central area led with a median worth per litre of N2,242.67, whereas the North-West adopted with N2,168.28. The South-East recorded the bottom worth at N1,772.94.8In phrases of gallon costs, Katsina recorded the best common at N8,900.50, adopted by Jigawa at N8,500.00 and Kebbi at N8,300.
The bottom costs have been in Adamawa (N5,300.44), Nassarawa (N5,325.41), and Niger (N5,381.88).9Regionally, the North-West had the best common worth per gallon at N8,070.54, with the South-East at N7,760.01. The North-Central area had the bottom common gallon worth at N6,176.20.
This improve in kerosene costs comes at a time when petrol costs in Nigeria proceed to fluctuate, with the present common worth at N1,120 per litre.
The nation’s gasoline worth historical past has seen substantial hikes, with costs rising from as little as N6 to N9 per litre within the Nineteen Sixties and Seventies to the present ranges. Moreover, the price of cooking fuel has surged, pushing many Nigerians to resort to options akin to firewood for cooking.
