The National Bureau of Statistics (NBS) says residents of Taraba, Borno, and Benue states paid the highest amount for premium motor spirit (PMS), better known as petrol, in August 2023.
says residents of Taraba, Borno, and Benue states paid the highest amount for premium motor spirit , better known as petrol, in August 2023.President Bola TinubuThe decision, which immediately led to a hike in the pump price of the product across the country, signalled an end to the federal government’s control of the commodity’s retail prices.
According to the NBS report, the average retail price paid by consumers represented a 230.78 percent increase, compared to the value recorded in August 2022 .It also increased on a month-on-month basis, from N600.35 in July 2023, indicating a spike of 4.39 percent.
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