The National Bureau of Statistics (NBS) has unveiled a significant uptick in diesel prices, with the average retail price per liter soaring from N828.82 in January 2023 to N1153.01 in January 2024.
This surge, detailed in the NBS Diesel Price Watch for January 2024 released from Abuja, marks a substantial 39.11 per cent increase compared to the previous year’s figures.
The report further highlights a month-on-month increase of 2.34 per cent with diesel prices rising from N1126.69 per liter in December 2023.
Statewise analysis reveals Kebbi as the region bearing the highest average diesel price in January 2024, reaching N1433.33 per liter, followed by Kogi at N1300 and Abuja at N1226.70.
Conversely, Borno records the lowest diesel price at N927.27 per liter, trailed by Kano at N940.89 and Taraba at N988.33.
Zone-based analysis indicates the North-Central region reporting the highest diesel price at N1205.11 per liter, while the North-East records the lowest at N1074.03 per liter.
These revelations underscore the considerable impact of fuel price fluctuations on consumers and businesses, signaling potential economic challenges in the transportation and industrial sectors.
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