Opening and closing retail prices of petrol in Nigeria. The closing figure is last recorded retail price during administration of Head of State.
Gowon: 6k to 9.5k or 58%
Gen. Obasanjo: 9.5k to 15.3k or 61%
Shagari: 15.3k
Buhari: 15.3k
Babangida: 15k to 70k or 366%
Shonekan: 70k to N5 or 614%
Abacha: N5 to N11 or 120%
Abdusalam: N11 to N20 or 81%
Obasanjo: N20 to N70 or 250%
Yar’adua: N70 to N65 (-7.14%)
Jonathan: N65 to N87 or 33%
Buhari: N87 to N145 or 66%
A rise in international crude oil prices implies a rise in fuel subsidies paid by the federation on fuel imports. Should OPEC production cuts hold, and prices rise, can Nigeria hold unto N145 retail petrol price….?
Nigeria is held hostage by rising and falling crude oil prices…..
