It stated as much in its newly published Fuel Price Watch for February 2023.
According to it, the price of N263.76 in February 2023 increased by 54.76% from the price of N170.42 in February 2022.
“Comparing the average price value with the previous month of January 2023, the average retail price increased by 24.58 per cent from N257.12.”
“On state profiles analysis, Jigawa paid the highest average retail price of N329.17 per litre, followed by Rivers and Ebonyi at N323.33 and N317.14, respectively.”
“Conversely, Niger paid the lowest average retail prices of N198.50 per litre, followed by Plateau at N198.71 and Abuja at N200,’’ it stated.
Analysis by zone revealed that in February 2023, the North Central had the lowest average retail price at N215.01 per litre and the Southeast had the highest average retail price at N306.86 per litre.
Additionally, the NBS reported that the average retail price for diesel for February 2023 was N836.91 per litre in its Diesel Price Watch Report.
It stated that the N836.91 per litre price in February 2023 represented an increase of 168.26% over the N311.98 per litre paid in February 2022.
“On a month-on-month basis, the price increased by 0.98 per cent from the N828.82 per litre recorded in January 2023,’’ it added.
According to the report’s state profiles study, Bauchi had the highest average diesel price in February 2023 at N904.33 per litre, followed by Abuja at N885 per litre and Adamawa at N873.33 per litre.
On the other side, Bayelsa scored the lowest price, at N767.14 for a litre, followed by Katsina State at N778.75 and Edo at N789.43.
Additionally, the analysis by zone revealed that the South-South had the lowest price per litre at N814.63, while the North Central had the highest price at N850.65.
