TheCable

The National Bureau of Statistics (NBS) says residents of Imo, Rivers and Akwa Ibom states paid the highest amount for premium motor spirit (PMS), better known as petrol, in January 2022.

In the PMS report for the month, the NBS said the average petrol price was N257.12 per litre.

Despite the regulation of petrol price and the high cost of subsidy, some states still pay more than the average.

The lingering fuel shortage — which is happening at the same time as cash scarcity — has had a ripple effect on citizens. From hiked fares to an increase in the cost of living, Nigerians are lamenting the harsh realities imposed by both situations.

According to the NBS report, the average retail price paid by consumers represented a 54.52 percent increase compared to the value recorded in January 2022 (N166.40).

It also increased month-on-month from N206.19 in December 2022, representing a spike of 24.70 percent.

“On state profile analysis, Imo state had the highest average retail price for Premium Motor Spirit (Petrol), with N332.14, followed by Rivers with N327.14 and Akwa Ibom with N319.00,” the report reads.

“On the other hand, Sokoto recorded the lowest average retail price for Premium Motor Spirit (Petrol) with N191.43, Plateau with N192.14 and Borno with N193.91.”

Across the geopolitical zones, the report showed that the highest average retail price was recorded in the south-east with N307.85, while the north-central had the least with N217.15.