The January 2021 report of the National Bureau of Statistics have revealed that Nigerians paid more for fuel in the month of January 2021 compared to the preceding month of December 2020.
According to the records made available by the Bureau in its monthly report, the price paid by consumers for Premium Motor Spirit (PMS) increased by 12.88 per cent. A breakdown of this figure indicates that the average price paid by the consumers for premium motor spirit (otherwise known as Petrol) increased by 12.88 per cent year-on-year and decreased month-on-month by -0.97 per cent to N164.09 in January 2021 from N165.70 in December 2020.
According to the National Bureau of Statistics, the data collated indicate the figures of the 774 local governments across all states and the FCT from over 10,000 respondents and locations and reflect actual prices households’ revealed they actually bought fuel together with the prices reportedly sold by the fuel suppliers.
Similarly, the Bureau’s report disclosed that in the same January 2021, the average price paid by consumers of Automotive Gas Oil (Diesel) also increased by 0.22 per cent month-on-month but decreased by -2.14 per cent year-on-year to N224.86 in January 2021 from N224.37 in December 2020