Following the National Bureau of Statistics (NBS) May 2024 price report which shows the average price at N762.62, with Jigawa State recording the highest price at N937.50 per liter
This is according to the Premium Motor Spirit (Petrol) Price Watch (May 2024), the NBS report on State by State profile analysis that Jigawa, had the highest average retail price PMS which at ₦937.50, followed by Ondo and Benue States with ₦882.67 and N882.22, respectively.
The removal of subsidy on Premium Motor Spirit also known as Petrol has led to high inflation rate which at 33.95 % in May and food inflation leading to 40.5%.
