The National Bureau of Statistics (NBS), Nigeria’s national statistics coordinating agency, on Tuesday reported that the average retail price of Automotive Gas Oil (also known as Diesel) paid by consumers in January 2023 was N828.82 per litre.
The average retail price of the commodity in the month under review represented an increase of 187.69% from N288.09 per litre recorded in the corresponding month of last year.
The NBS, in the just published ‘Automotive Gas Oil (Diesel) Price Watch (January 2023)’, indicated that on a month-on-month basis, this increased by 1.34% from N817.86 per litre reported in December 2022.
According to the Bureau, a state-by-state analysis of the commodity’s price in the month under review showed that Bauchi consumers paid the highest average price of the product at N900 per litre, followed by Benue where buyers paid N885.71 per litre, and Adamawa with N866.67/litre
Conversely, the statistics agency disclosed that the lowest price was recorded in Bayelsa with N768.75, followed by Edo with N788.00 and Akwa Ibom with N788.75.
An analysis of the report on zone-by-zone basis reflected that consumers in South-West paid the highest price at N845.59/litre, while South-South consumers paid the lowest price for the product at N800.49 in the month under review.
To generate fuel prices data on monthly basis, the Bureau deploys over 700 of its staff to conduct fieldwork in all states of the federation and are supported by supervisors who are monitored by internal and external observers.
The agency further stated that fuel prices are collected across all the 774 local governments and the FCT from over 10,000 respondents and locations and reflect actual prices households state they actually bought those fuels together with the prices reportedly sold by the fuel suppliers.
