A lot of Nigerians may no longer be able to afford kerosene due to the commodity’s price increase of 118% in the last 12 months.
The average retail price per litre of the product increased by 118% to N947 from N434 in September 2021, according to the Nigerian Bureau of Statistics’ National Household Kerosene report for September.
The average retail price for a litre of HHK that consumers paid in September 2022 was N947, up 17% from the N809 price recorded in August 2022, according to the report.
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According to a breakdown of the report, Enugu had the highest average price per liter in September 2022, with N1,272, followed by Ebonyi and Cross River, both with N1,264.
In contrast, Rivers recorded the lowest price at N686, followed by Bayelsa at N715 and Nasarawa at N735.
Additionally, analysis by zone revealed that the North-West had the lowest average retail price per liter of the product at N869, while the South-East had the highest at N1,128.
Consumers paid N3,236 on average for a gallon of goods at retail in September 2022, an increase of 10% from N2,948 in August 2022. On an annual basis, it increased from N1,541 in September 2021 by 11%.
According to a report on state profile analysis, Abuja had the highest average retail price per gallon of cooking kerosene at N4,200, followed by Abia and Enugu at N4,078 and N4,052, respectively.
The lowest price was recorded in Borno, however, at N2,500. Zamfara and Delta were next, with N2,555 and N2,577, respectively.
The South-East had the highest average retail price per gallon of the product, with N3,607, followed by the South-West, with N3,468, and the North-East, with N2,804, according to zone analysis.
The price of cooking kerosene per gallon increased to N790 in July from N761.69 in June, a 3.68 percent increase.
The Nigeria National Petroleum Company Limited, the country’s state oil company, recently stopped importing the good, forcing independent retailers to keep raising their prices.
More than 70% of Nigeria’s 200 million people, according to Group Chief Executive Officer of NNPC Ltd. Mele Kyari, lack access to clean cooking fuels. The cost of cooking gas has also increased dramatically.
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