The latest report from the National Bureau of Statistics (NBS) highlights a significant increase in the price of kerosene, placing additional strain on household budgets.
The report, part of the NBS’ Price Watch series, shows that the price of kerosene has risen both month-on-month and year-on-year.
Residents in the North-Central region are paying the highest average retail prices, with Abuja, Kaduna, and Akwa Ibom States topping the list.
In October 2024, the average retail price of Household Kerosene (HHK) reached ?1,957.44 per litre, marking a 3.07% increase from the ?1,897.12 recorded in September 2024. Year-on-year, the price has risen by 54.81%, up from ?1,303.16 in October 2023.
The price per gallon of kerosene also saw a rise, increasing by 1.94% from ?6,818.11 in September to ?6,949.75 in October 2024. Compared to October 2023, this represents a 51.68% increase from ?4,581.89.60. State-wise data shows that Abuja recorded the highest average price per litre, at ?2,875.00, followed by Akwa Ibom, at ?2,518.89 and Kaduna, at ?2,500.79. The lowest prices were found in Borno, with ?1,500.30, Bayelsa, at N1,500.67, and Adamawa, at ?1,679.19.
On a regional level, the North-Central region led with an average price per litre of ?2,242.67, while the North-West followed with ?2,168.28. The South-East recorded the lowest price at ?1,772.94.80. In terms of gallon prices, Katsina recorded the highest average, at ?8,900.50, followed by Jigawa at N8,500.00 and Kebbi at ?8,300.
The lowest prices were in Adamawa (?5,300.44), Nasarawa (N5,325.41), and Niger (?5,381.88).9Regionally, the North-West had the highest average price per gallon at ?8,070.54, with the South-East at ?7,760.01. The North-Central region had the lowest average gallon price, at N6,176.20.
This increase in kerosene prices comes at a time when petrol prices in Nigeria continue to fluctuate, with the current average price at ?1,120 per litre.
The country’s fuel price history has seen substantial hikes, with prices rising from as low as ?6 to ?9 per litre in the 1960s and 1970s to the current levels. Additionally, the cost of cooking gas has surged, pushing many Nigerians to resort to alternatives such as firewood for cooking.
