Average price of petrol in Nigeria 2019-2023

Published by
Doris Dokua Sasu,
Sep 30, 2024
In June 2023, the average petrol price in Nigeria reached 532.5 Nigerian naira per liter, a drastic increase of 208.28 percent from the preceding year. This was a result of the removal of subsidies on petrol. In the period under review, the average petrol price reached its lowest value in the first half of 2020, at 130 Nigerian naira per liter. Overall, the price has followed an increasing trend since 2020.
As of June 2023, Nigeria was among the countries with cheaper petrol prices between selected countries on the continent in U.S. dollars.

Average price of petrol in Nigeria from 1st quarter 2019 to June 2023 (in Nigerian naira)

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Release date

July 2023

Region

Nigeria

Survey time period

Q1 2019 to June 2023

Supplementary notes

As of August 02, 2023, 1 Nigerian naira is equivalent to 0.0013 U.S dollars.

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