From kerosene to petrol and transport, how prices increased in the last one year in Nigerian
The National Bureau of Statistics (NBS) has released reports on the percentage of increment in prices of kerosene, petrol and transportation as against the previous year
These commodities are believed to be essential to every Nigerian as it directly impact their living standards.
The reports which touched every state of the federation showed massive increments in terms of money being paid by Nigerians for these essential commodities.
According to a release on the NBS website: “The transport fare watch report for January 2017 covers the following categories namely bus journey within the city per drop constant route ; bus journey intercity, state route, charge per person; air fare charge for specified routes single journey; journey by motorcycle (okada) per drop; and water way passenger transport.
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"Average fare paid by commuters for bus journey within the city dropped by 17.72% month-on-month and increased by 58.35% year-on-year to N1,430.63 in January 2017 from N1,631.14 in December 2016.
“States with highest bus journey fare within city in January 2017 were Abuja (N290.55), Cross River (N210) & Adamawa (N200) while States with lowest bus journey fare within city in January 2017 were Borno (N50), Yobe (N65) & Bauchi/Bayelsa (N70)," the report said.
The report on kerosene however has the highest increment in terms of percentages. The report read: “Average price per litre paid by consumers for National Household Kerosene increased by 87.12% year-on-year and 93.19% month-on-month to N433.84 in January 2017 from N231.85 in December 2016.
“States with the highest average price per litre of kerosene were Sokoto (N647.62), Niger (N625.00) & Edo (560.19).
“States with the lowest average price per litre of kerosene were Ogun (N324.44), Zamfara (N300.00) and Plateau (N270.00)."
According to the report, money paid by Nigerians for petrol has the lowest increment as it increased by only 35.7% as against 87.12% and 58.35% of kerosene and transport.
“Average price paid by consumers for premium motor spirit (petrol) increased by 35.7% year-on-year and 1.35% month-on-month to N148.7 in January 2017 from N146.7 in December 2016. States with the highest average price of premium motor spirit (petrol) were Borno (N164.09), Oyo (N161.00) & Ebonyi (156.47). States with the lowest average price of premium motor spirit (petrol) were Kogi (N144.67), Ekiti & Imo (N144.64) and Abuja (N144.20), the report read.
Source: Legit.ng
