Story Highlights
- Diesel holds a pivotal role as one of the most consumed petroleum commodities in Nigeria, owing to its versatile use for personal, industrial, and transportation purposes.
- Given the country’s poor electricity supply issues, a substantial portion of Nigerians depend on diesel-powered generators to maintain business operations, which notably escalates operational expenses and overall business costs.
- In this article, Nairametrics highlighted the top ten states with the highest diesel prices as of May 2024.
The price of Automotive Gas Oil, commonly known as diesel, has surged dramatically in the past year, reaching an average of N1,400 nationwide.
According to data from the National Bureau of Statistics (NBS), the price increased by 66.29% year-to-date as of May 2024.
The Diesel Price Watch report showed that the commodity’s price rose from N844.28 in May 2023 to N1,403.96 in May 2024.
On a month-to-month basis, the price experienced a slight decline, dropping from an average of N1,415.06 in April 2024 to N1,403.96 in May 2024, marking a 0.78% fall within one month.
However, diesel prices vary across the 36 states of the country, resulting in consumers paying different prices depending on their state of residence.
As most Nigerians depend on diesel-powered generators to run their businesses and even power their household because of low power supply, states with high prices of this commodity are most likely to have a higher operational cost, thus affecting the prices of other goods and services in those locations.
In this article, Nairametrics highlighted the top ten states where consumers paid the most for diesel as of May 2024, listed from the lowest to the highest.
Delta State
Despite being an oil-rich state and part of the Niger Delta region, Delta consistently has high diesel prices, forcing consumers to pay more for their diesel consumption.
As of May 2024, residents of Delta pay an average of N1,511 for diesel. While this price is below the national average, it remains one of the highest among the 36 states in the federation.
The high price will impact both households and businesses, perhaps leading to increased living costs and operational expenses in the state.
Enugu State
Enugu State is also one of the States with the highest price of diesel as of May 2024.
According to data from NBS, residents from the southeast state paid an average of N1,538.18, making it the ninth state with the highest price of diesel in the country.
Although Enugu is not an oil-producing state, it has one of the highest diesel prices in the country and ranks second in the southeastern region for the cost of the commodity.
Imo State
Another southeast state, Imo state, is ranked among the most expensive states when it comes to the price of diesel as of May 2024.
The Diesel Price Watch report showed that diesel sold for N1,545.16 as of May 2024.
In addition, Imo is the state with the highest price of the commodity in the Southeast, and the second highest in the southern region as of May 2024.
Gombe State
Residents of Gombe State paid more for diesel in May 2024 than 29 other states in Nigeria, making it the seventh most expensive state with the price of diesel in that country.
The Diesel Price Watch showed that residents of the northeast state paid as high as N1,592.16 for a liter of diesel on average in May 2024.
Interestingly, Gombe state has the lowest price of diesel among the six states in the North-East.
Note that data from NBS indicated northeast has the most expensive diesel price on average among the six geopolitical zones in the country.
Yobe State
Closely following Gombe is Yobe State, another northeast state in the country.
Data from NBS showed that residents in the state paid as high as N1,596.9 for a liter of diesel in May, making it the sixth most expensive state in the country.
The average price of diesel in Yobe State is also higher than the average price of the commodity in the same month.
Cross River State
Cross River State is the fifth state with the most expensive price of diesel on average in May 2024.
The data showed that residents paid an average sum of N1,625 for a liter of diesel last month.
Interestingly, Cross River residents paid more for diesel than any state in the south-south region and the country’s southern region.
The price of a liter of diesel in the state is about N200 above the national average.
Taraba State
Data from NBS showed that people living in Taraba state paid an average of N1,636.22 for a liter of diesel as of May 2024.
The residents paid more than 32 states in the country, making it the fourth state with the most expensive price of diesel.
In addition, the state is also the third state with the most expensive price of diesel in the northeast, following states like Taraba and Yobe.
Bauchi State
Bauchi State is the third state with the most expensive price of diesel as of May 2024.
According to data from NBS, the average price of a liter of diesel in the northeast state was N1,675 as of May 2024, forcing residents to pay about N230 above the national average for the commodity.
Bauchi is also the second most expensive state in the northeast region. Residents in the state spent more on a liter of fuel than 33 other states in the country.
Sokoto State
Sokoto state is ranked the second state with the highest price of diesel as of May 2024. It’s also the state with the highest price of diesel in the northwest within the same period.
Interestingly, Sokoto state is the only state in the northwest with an average price of a liter of diesel that is above the national average price, making it one of the most expensive states in the region when it comes to energy cost.
Adamawa State
Adamawa state is ranked the highest in the country’s diesel price as of May 2024.
Data from NBS showed that a liter of diesel is sold for an average of N1,709, making it the only state within the N1,700 range in the country.
Moreover, the price of diesel in Adamawa state is N309 higher than the national average.
In other words, residents spent more than N300 in purchasing a liter of diesel than the national average as of May 2024.
