It’s no longer news that there’s been review of new fuel prices across states in Nigeria after the mention of the removal of fuel subsidy by the new President, Bola Ahmed Tinubu.
Tinubu, who was sworn in as the 16th President of Nigeria after emerging winner at the tightest presidential election in the history of the country, made this known during his inauguration ceremony at Eagles Square on Monday, 29th May 2023.
He stated that “The fuel subsidy is gone. Subsidy can no longer justify ever-increasing costs in the wake of drying resources. We shall, instead, re-channel the funds into better investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions.”
After this announcement, it was observed that various fuel stations started hoarding their product to hike up the price as regards this. Reports gathered from different areas, including an oil-producing South-South zone sold at N600 per liter as of yesterday 30th of May, 2023.
But luckily, after an extensive NNPC (Nigeria National Petroleum Corporation) stakeholders meeting on Wednesday 31 May in the morning, new unified pump prices were later agreed upon amongst all the geopolitical zones including Abuja and Lagos state, which takes effect immediately.
The New Fuel Prices Across As Agreed by Stakeholders
According to sources from Daily Independent, the highest rate the new pump price will sell during the period of the subsidy removal is at N557 per liter in Maiduguri (Borno State capital) and Damaturu (Yobe State Capital).
In other words, the price will be stationed at N550 per liter in the whole of the Northeast zone apart from the aforementioned Northeastern cities.
Lagos state will sell at the rate of N488 per liter, while the rest of the Southwest zone will sell at N500
The South-South zone will sell at N511 per liter, except cities like Uyo (Akwa Ibom State capital) and Yenegoa (Bayelsa State capital) will sell at N514 per liter.
The whole of the Southeastern part will sell at N520 per liter.
The Northwest Zone will sell at not more or less than N545 per liter, while the North Central Zone (excluding Illorin, the Kwara State capital) will sell at N537. Illorin will sell at N515 per liter.
Finally, the FCT Abuja will sell at an official price of N537.