Kerosene Price Surpasses N2000 Per Litre, Putting Strain on Nigerian Households
By Okafor Joseph Afam, November 20, 2024
The price of kerosene in Nigeria has continued its upward trajectory, creating a growing burden for households across the country. A recent report from the National Bureau of Statistics (NBS) revealed that the cost of kerosene has increased significantly, both month on month and year on year, with some regions, particularly in the North Central, facing the highest prices.
According to the NBS report, the average retail price of Household Kerosene (HHK) in October 2024 rose to N1,957.44 per litre, marking a 3.07% increase from the N1,957.44 recorded in September 2024. Year on year, the price surged by a staggering 54.81%, up from N1,303.16 in October 2023.
The price hike has also been reflected in the cost of kerosene by gallon. In October 2024, the average retail price for a gallon of kerosene increased by 1.94%, reaching N6,949.75, compared to N6,818.11 in September. Over the past year, this represents a 51.68% increase from the price of N4,581.89 in October 2023.
A state-by-state analysis showed that Abuja recorded the highest average price per litre of kerosene at N2,875.00, followed by Akwa Ibom (N2,518.89) and Kaduna (N2,500.79). In contrast, Borno had the lowest price at N1,500.30, with Bayelsa (N1,500.67) and Adamawa (N1,679.19) following closely.
The report also highlighted significant regional disparities. The North Central zone recorded the highest average retail price per litre at N2,242.67, with the North-West following at N2,168.28. The South-East region, however, had the lowest price at N1,772.94.
When analyzed by gallon, Katsina emerged with the highest average price at N8,900.50, followed by Jigawa (N8,500.00) and Kebbi (N8,300.00). Adamawa, on the other hand, recorded the lowest price at N5,300.44, with Nassarawa and Niger closely behind at N5,325.41 and N5,381.88, respectively.
These rising costs are a continuation of the trend seen in petrol prices, which have fluctuated dramatically over the years. As of now, the average price of petrol stands at N1,120 per litre. Nigerians have witnessed significant price hikes over the decades, with prices soaring from as low as N6000 to N9000 per litre in the 1960s and 1970s to the current levels.
The increase in kerosene prices comes at a time when cooking gas prices are also on the rise, forcing many Nigerians to turn to alternative cooking methods, such as using firewood, as a more affordable option. With the steady rise in fuel and cooking prices, Nigerian households are under increasing strain, struggling to make ends meet.
The situation raises concerns about the long-term impact on the economy and the everyday lives of Nigerians, especially the most vulnerable segments of society, who are most affected by rising fuel costs.
