Sunday, 21 February 2016

Nigerians bought fuel at N109.59 in January 2015 – NBS


By Oluwagbenga Bankole

Despite the Federal Government directive that a litre of Premium Motor Spirit (PMS) otherwise known as petrol should be sold at N86 per litre by the Nigerian National Petroleum Corporation (NNPC) Retail stations, while other oil marketers would sell at N86.50 per litre, Nigerians bought the petroleum product at the average price of N109.59 per litre in January 2016.

In a report released by the National Bureau of Statistics (NBS), although the price dropped by N10.02 compare to December 2015 which was N119.61, it is N23.59 increase compare to the N86 regulated price by federal government.

The report indicated that averagely no Nigerians bought the product at the regulated price in the month under review.

TOTALNEWS247 analysis showed that Ebonyi was the state with the highest petrol price at N132.14 per litre, while Oyo state was the lowest at N91.47.

Residents of Kano, Lagos and Abuja bought the product at an average of N 99.08, N 91.06 and N 99.60 respectively during the period.

The Department of Petroleum Resources (DPR) who is saddled with responsibilities of ensuring marketers complied with the new price regime had on several occasions vowed to ensure compliance.

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