According to National Bureau of Statistics, NBS, fuel prices is now N112 formally it was N100 per litre. The Nigeria government which is known for leaving the increased fuel price at constant whenever fuel increases struggles to the return the price of at base N87
This is about N25 or about 30 percent higher than the official pump price of N87 per litre.
The report released yesterday also indicates that though there was a 5.3 percent drop against previous month’s record high of N118.4, fuel prices have been on high pitch since this year, yielding an overall year-on-year increase of 7.3 percent above 2014 average.
Bayelsa, a major oil producing state, at retail price of N155 per litre, up from N115.
Some other states, which recorded highest average prices are Niger at N138.3; Kogi, N128.3 and Adamawa, N122.5.
Where is Nigeria going the citizens laments.
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