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Nairaland Forum / Nairaland / General / Politics / History Of Government Regulated Fuel Prices In Nigeria ( 1966- April 2016 ) (471 Views)
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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 |
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