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History Of Government Regulated Fuel Prices In Nigeria ( 1966- April 2016 ) - Politics - Nairaland

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History Of Government Regulated Fuel Prices In Nigeria ( 1966- April 2016 ) by succyreal(m): 11:22am On Apr 27, 2016
Nigerians really have to appreciate the fact that history of fuel have really shown present and future Nigerians how fuel price has been regulated since the time of general Yakubu GOWON (1966-1975) to the present day Muhammadu Buhari (2016) and also to see how the present day government have help in solving the present fuel crisis.

Before I list the history of fuel Prices in Nigeria let me commend The present day administration in trying to solve the fuel issues by making Nigeria refinery work and refining it's petroleum products. That is a very great boast to the nation's economy.

I will also love to use this medium to support and commend the present day government on it's anti-corruption campaign, that it should be extended to the marketers of this products by ensuring that fuel are sold at the approved price.

HISTORy OF GOVERNMENT REGULATED FUEL PRICES IN NIGERIA ( 1966- April 2016 )

Yakubu Gowon, 1973 petrol price was risen from
6kobo to 8.45k
Murtala 1976 petrol was risen from 8.4k to 9k
Obasanjo, Oct. 1, 1974 petrol 9k to 15.3k
Shagari, April 10, 1982: petrol 15.3k to 20k
Buhari: Never touched that price of fuel
Babangida, March 31 1986 petrol 20k to 39.5k
Babangida, April 10 1988 petrol 39.5k to 42k
Babangida, Jan. 1 1989 petrol 42k to 60k
Babangida March 6 1991 petrol 60k to 70k
Shonekan November 8 1993 Petrol 70k to N5
Abacha Nov. 22 1993 petrol price drop from N5
to 3.25k
Abacha Oct. 2 1994 Petrol Move from N3.25k to
N15
Abacha Oct. 4 1994 petrol Price drop from N15
to N11
Abubakar Dec. 20 1998 petrol moved from N11
to N25
Abubakar Jan.6 1999 petrol price drop from N25
to N20
Obasanjo June 1 2000 petrol N20 to N30
Obasanjo June 8 2000 petrol drop from N30 to
N22
Obasanjo Jan. 1 2002 petrol N22 to N26
Obasanjo June to Oct. 2003 petrol N26 to N42
Obasanjo May 29 2004 petrol N42 to N50
Obasanjo August 25 2005 petrol N50 to N65
Obasanjo May 27 2007 petrol N65 to N75
Yar'Adua June 2007 petrol drop from N75 to N65
Goodluck January 1 2012 petrol price moved
from N65 to N141
Goodluck January 17 2012 petrol price drop
from N141 to N97
Goodluck 2014 petrol price drop from N97 to
N87
In May 2015 fuel scarcity hit Nigeria and petrol
price was N350 to N200 in some petrol station
in Nigeria.
From the history, Buhari is the only Nigeria
leader from Gowon regime who never touched
price of fuel
Yar'Adua was the only leader who never
increase rather rather reduce from N70 to N65

In the first quarter of the year 2016, fuel scarcity has really hit Nigerians making fuel to be sold at 200 naira to N300 and above

(1) (Reply)

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