Anambra,Kano and Niger are the top three states in Nigeria that recorded the highest average retail price of Automotive Gas Oil (diesel) paid by consumers in September 2023, according to the National Bureau of Statistics (NBS).
The latest diesel price watch report showed that Kano, Anambra and Niger had N967.8 per litre, N950.9 per litre and N950.5 per litre while the top three lowest prices were recorded in Bayelsa (N840.2), Katsina (N840.6) and Rivers (N840.8).
“South East zone has the highest price of N918.06 while South South zone has the lowest price N863.97 when compared with other zones,” the report said.
It said the average retail price of diesel across the country increased by 12.8 percent on a year-on-year basis from a lower cost of N789.9 recorded in the corresponding month of last year to a higher cost of N890.8 in September.
“On a month-on-month basis, an increase of 4.27 percent was recorded from N854.3 in the preceding month of August to an average of N890.8 in September.”
Experts attributed the increase to the recent implementation of a 7.5 percent value-added tax (VAT) on imports of diesel by the federal government, the ban on the export of diesel fuel by Russia, and the sharp decline of the naira against the dollar.