History Of Petrol Pricing In Nigeria Over The Last 44 Years

For Our Records :

A History of (PMS) Petrol Pricing in Nigeria (price per liter)

The depth of economic instability in Nigeria is very well told by a run through of the history of petrol pricing in Nigeria over the last 44 years. We have had a total of 26 Petrol price reviews by 12 administrations in the last 44 years!


Details:


  • Gowon-1973: 6k to 8.45k
  • Murtala-1976: 8.45k to 9k
  • Obasanjo -Oct 1,1978: 9k to 15.3k
  • Shagari-Apr 20,1982: 15.3k to 20k
  • Babangida-Mar 31, 1986: 20k to 39.5k
  • Babangida-Apr 10, 1988: 39.5k to 42k
  • Babangida-Jan 1, 1989: 42k to 60k(Private Vehicles)
  • Babangida- Mar 6, 1991: 60k to70k
  • Shonekan(82 days in power) -Nov 8, 1993: 70k to N5
  • Abacha- Nov 22, 1993: N5 to N3.25k(price dropped)
  • Abacha-Oct 2, 1994: N3.25k to N15
  • Abacha-Oct 4, 1994: N15 to N11 (price dropped)
  • Abubakar-Dec 20, 1998: N11 toN25
  • Abubakar-Jan 6,1999: N25 to N20(price dropped)
  • Obasanjo -June 1, 2000: N20 to N30
  • Obasanjo-June 8, 2000: N30 to N22(price drops)
  • Obasanjo-Jan 1, 2002: N22 to N26
  • Obasanjo-june, 2003: N26 to N42
  • Obasanjo-May 29, 2004: N42 to N50
  • Obasanjo-Aug 25, 2004: N50 to N65
  • Obasanjo-May 27, 2007: N65 to N75
  • Yar’ Adua-June, 2007: back to N65 (price drops)
  • Jonathan (New year present) – Jan 1, 2012:  price rise to N141
  • GEJ (Labour strike forced him) – Jan 17, 2012: N97
  • Jonathan (Feb, 2015 – two weeks to the 2015 Election): N87
  • Buhari from N87 to N145 on Wednesday, May 11, 2016.
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