Nairaland Forum

History of fuel price increases in Nigeria

Gowon, 1973: 6k to 8.45k (40.8%)

Murtala, 1976: 8.45k to 9k (0.59%)

Obasanjo, October 1, 1978: 9k to 15.3k (70%)

Shagari, April 20, 1982: 15.3k to 20k (30.71%)

Babangida, March 31 1986: 20k to 39.5k (97.5%)

Babangida, April 10 1988: 39.5k to 42k (6.33%)

Babangida, January 1, 1989:  42k to 60k Private vehicles.

Babangida, December 19, 1989: moved to uniform price of 60k (42.86%)

Babangida, March 6, 1991: 60k to 70k (16.67%)

Shonekan, November 8, 1993: 70k to N5 (614%)

Abacha, November 22,1993: petrol price drops from N5 to N3.25k (-35%)

Abacha, October 2,1994: N3.25k to N15 (361.54%)

Abacha, October 4,1994: price drops from N15 to N11(-26.67%)

Abubakar, December, 20, 1998: N11 to N25 (127.27%)

Abubakar, January 6,1999: N25 to N20 (-20%)

Obasanjo, June 1, 2000:  N20 to N30 (50%)

Obasanjo, June 8, 2000: Petrol price reduced to N22 (-10%)

Obasanjo, January 1, 2002: N22 to N26 (18.18%)

Obasanjo, June to October, 2003: N26 to N42 (23.08%)

Obasanjo, May 29, 2004: N50 (19.05%)

Obasanjo, August 25, 2004: N65 (30%)

Obasanjo, May 27, 2007: N75 (15.38%)

Yar’Adua, June 2007: N65 (-15.38%)

Jonathan, January 1, 2012: between N138 to N250 (112.31 to 284.62%)

Source:

extract from the last page  - http://www.vanguardngr.com/2012/01/fuel-or-fraud-subsidy-war-nigeria-loses-n2trn-in-six-days/


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