Abuja recorded the highest average price of kerosene in Nigeria as of December 2024

Key takeaways:

  • In December 2024, the top five states with the highest average kerosene prices were: Abuja (₦2,950.0), Akwa Ibom (₦2,538.3), Kaduna (₦2,510.6), Cross River (₦2,430.7), and Sokoto (₦2,400.1).
  • Abuja recorded the highest average price of kerosene in December 2024, while Borno state recorded the lowest price.
  • The price of kerosene per litre ranged from ₦1,520.4 to ₦2,950 across Nigerian states in December 2024.
  • The percentage difference in the price of kerosene across Nigeria states in December 2024 is approximately 63.9%.

The average kerosene price per litre varies across Nigerian states, ranging from ₦1,520.4 to ₦2,950. The highest cost of kerosene was observed in Abuja, followed closely by Akwa Ibom, which had an average price of ₦2,538.3, and Kaduna, where the average price was ₦2,510.6. In Lagos, the average price of kerosene was reported at ₦2,100.3, while in Oyo state, it was ₦2,165.1.

 

A total of twenty-one states in Nigeria reported kerosene prices exceeding ₦2,000, whereas only two states had prices below ₦1,600. Overall, the data illustrates the variations in kerosene prices across different states in Nigeria.

Source:

National Bureau of Statistics

Period:

December 2024
HTML code to embed chart
Want a bespoke report?
Reach out
Click to copy HTML embed code
Tags
Related Insights
Nigeria bought ₦305.66 billion worth of crude oil from Libya in Q2 2026
  • Nigeria imported ₦305.69bn from Libya in Q2 2026, up from ₦2.17bn in Q1.
  • Crude oil accounted for 99.99% of Q2 imports, worth ₦305.66bn.
  • Libya’s Q2 exports to Nigeria surged from ₦7.4bn in 2025 to ₦305.69bn.
  • Libya became Nigeria’s ninth-largest import source, accounting for 2.12% of total imports in Q2.
  • Nigeria’s imports from Libya were previously dominated by much smaller values, with crude oil driving the sharp 2026 increase.
Africa’s share of global oil consumption has stayed below 5% for six decades
  • Global oil consumption rose from about 30.9 million barrels per day in 1965 to 101.4 million barrels per day in 2024, more than tripling over the period.
  • Asia Pacific saw the biggest structural shift in global oil demand, increasing its share from 10.7% in 1965 to 37.9% in 2024 to become the world’s largest oil-consuming region.
  • Africa accounted for just 1.9% of global oil consumption in 1965 and 4.5% in 2024, staying below 5% for nearly 60 years.
  • The global centre of oil demand has gradually shifted away from Western economies toward Asia, reflecting industrialisation, urbanisation, and population growth across the region.
  • Africa’s modest share of global oil demand highlights the continent’s relatively low industrial energy consumption despite rapid population growth.
Nigeria's petrol prices have surged 40% since the US/Israel-Iran war
  • Nigeria recorded the largest petrol price increase in Africa, rising 39.5% between February 23 and March 16, 2026.
  • Egypt experienced a 14.3% increase, making it one of the largest price jumps in Africa.
  • Nigeria’s increase is more than double that of Egypt.
  • A number of African countries recorded very small price changes, including Tanzania (2.7%), Morocco (2.1%), and South Africa (1%).
  • A few countries actually saw declines in fuel prices, including Madagascar (-3.9%) and Zambia (-4.6%).
  • During the period, petrol prices remained unchanged in 28 African countries.
Dangote Refinery’s fuel price hits an all-time-high, rising from ₦699 to ₦1,175 in four months
Fuel prices from Dangote Refinery reached an all-time high of ₦1,175 per litre in March 2026. The lowest recorded price in the period was ₦699 per litre in December 2025, showing a wide price swing. The jump from ₦699 to ₦1,175 happened in roughly four months.
  • Prices earlier in the timeline hovered mostly between ₦820 and ₦987 during late 2024 and much of 2025.
  • The December 2025 price cut was aimed at making locally refined fuel more competitive against imports.
  • After the price drop, fuel costs began rising again in early 2026, reaching ₦995 by early March before climbing further.
  • Global geopolitical tensions affecting oil markets contributed to the upward pressure on prices.
Nigeria’s crude oil export value surges over 400% from 2020 to a record ₦55.3tn in 2024
  • Export values have grown over 400%, rising from ₦11.8 trillion in 2013 to a peak of ₦55.3 trillion in 2024, a fivefold increase driven by rising oil prices and a weaker naira.
  • 2015 and 2016 were the hardest years, with export values crashing as low as ₦6.8 trillion in 2015, reflecting the brutal impact of the global oil price collapse on Nigeria's most critical export.
  • The most explosive growth came from 2023 onwards, with values surging past ₦29 trillion in 2023 and peaking at ₦55.3 trillion in 2024, largely driven by the naira depreciation following Nigeria's 2023 foreign exchange reforms.
  • The first nine months of 2025 saw a slower pace than the previous year, with ₦37.7 trillion recorded between Q1 and Q3, lower than the ₦41.5 trillion recorded during the same period in 2024.
Nigeria’s exports remain oil-dominated, but non-oil exports are steadily rising—reaching up to 18% in early 2025
  • Oil exports continued to dominate, averaging over 88% of total exports in 2024 and remaining above 81% in the first half of 2025.
  • Non-oil exports rose gradually, from a low of 6.9% (February 2024) to a high of 18.1% (January 2025).
  • Peaks in non-oil export contributions occurred in July 2024 (16.4%) and January–April 2025 (13–18%), indicating progress toward diversification.
  • Total exports remained heavily oil-driven, though sustained double-digit non-oil shares in late 2024 and early 2025 show a slow shift.
POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved