News

December 26, 2017

Timeline of fuel price increments

Timeline of fuel price increments

•Black market sellers and fuel scarcity anguish in Abuja, Kaduna, Warri and Port Harcourt, weekend. Photos: Olu Ajayi & Nwankpa Chijioke.

Gowon-1973: 6k to 8.45k (40.83%)
Murtala-1976: 8.45k to 9k (6.5%)
Obasanjo -Oct 1,1978: 9k to 15.3k (70%)
Shagari-Apr 20,1982: 15.3k to 20k (30.72%)
Babangida-Mar 31, 1986: 20k to 39.5k (97.5%)
Babangida-Apr 10, 1988: 39.5k to 42k (6.33%)
Babangida-Jan 1, 1989: 42k to 60k (42.86%)
Babangida- Mar 6, 1991: 60k to70k (16.67%)
Shonekan(82 days in power)-Nov 8, 1993: 70k to N5 (614.29%)
Abacha- Nov 22, 1993: N5 to N3.25k (price dropped 35%)
Abacha-Oct 2, 1994: N3.25k to N15 (361.54%)
Abacha-Oct 4, 1994: N15 to N11(price dropped 26.67%)
Abubakar-Dec 20, 1998: N11 toN25 (127.27%)
Abubakar-Jan 6,1999: N25 to N20(price dropped 25 %)
Obasanjo -June 1, 2000: N20 to N30 (50%)
Obasanjo-June 8, 2000: N30 to N22(price drops 26.67%)
Obasanjo-Jan 1, 2002: N22 to N26 (18.18%
Obasanjo-June, 2003: N26 to N42 (61.54%)
Obasanjo-May 29, 2004: N42 to N50 (19.05%)
Obasanjo-Aug 25, 2004: N50 to N65 (30%)
Obasanjo-May 27, 2007: N65 to N75 (15.39%)
Yar’ Adua-June, 2007: back to N65(price drops 15.39%)
Jonathan -Jan 1,2012: N65 to N141 (116.92%)
Jonathan – Jan 17, 2012: N141 to N97 (Price drops 31.21%)
Jonathan – Feb, 2015 N97 to N87 (price drops 10.31%)
Buhari – May 11, 2016: N87 to N145 (66.67%)
Yar’Adua was the only president who did not increase pump price of fuel. He reduced it from N75 to N65.