In a recent report released by the National Bureau of Statistics (NBS) on Wednesday in Abuja, the average retail price of diesel has skyrocketed from N828.82 in January 2023 to a staggering N1153.01 in January 2024.
This increase, amounting to a significant 39.11 percent surge over the previous year’s price, reflects the ongoing challenges facing consumers in the energy market. The NBS Diesel Price Watch for January 2024 highlights a month-on-month rise of 2.34 per cent, with prices soaring from N1126.69 per litre in December 2023.
The state profile analysis provided by the report unveils striking discrepancies in diesel prices across regions. Kebbi tops the list with the highest average price recorded at N1433.33 per litre, followed closely by Kogi at N1300 and Abuja at N1226.70. Conversely, Borno boasts the lowest price at N927.27 per litre, trailed by Kano at N940.89 and Taraba at N988.33.
Furthermore, the analysis by zones reveals the North-Central region bearing the highest price burden, with diesel costing an average of N1205.11 per litre. In contrast, the North-East region records the lowest price, albeit still steep, at N1074.03.
As consumers grapple with these surging costs, concerns about the economic implications linger, warranting close attention from policymakers and stakeholders alike.
