A History Of Fuel Price Adjustments In Nigeria

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For the records, for those of us who have forgotten and who cares to know

HISTORY OF FUEL PRICE INCREASES IN

NIGERIA.
(K for kobo, N for Naira)

•Gowon – from 6k to 8.45kobo
•Murtala – from 8.45k to 9k
•Obasanjo – from 9k to 15.3k
•Shagari – from 15.3k to 20k
  • BUHARI 20k-20k (constant)

•Babangida – from 20k to 39.5k
•Babangida – from 39.5k to 42k
•Babangida – from 42k to 60k (Private

Vehicles)

•Babangida – from 60k to 70k
•Shonekan – from 70k to N5 (Naira)
•Abacha – from N5 to N3.25k (Price drops)
•Abacha – from N3.25k to N15
•Abacha – from N15 to N11 (Price drops)
•Abubakar – from N11 to N25
•Abubakar – from N25 to N20 (Price drops)
•Obasanjo – from N20 to N30
•Obasanjo – from N30 to N22 (Price drops)
•Obasanjo – from N22 to N26
•Obasanjo – from N26 to N42
•Obasanjo – from N42 to N50
•Obasanjo – from N50 to N65
•Obasanjo – from N65 to N75
•Yar’Adua – from N75 to N65 (Price drops)
•Jonathan – (New year present) N141
•Jonathan – (After labor strike) N97
BUHARI and YAR’ADUA did not increase prices. In fact, YARADUA reduced the pump price from N75 to N65.

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