Price Movements of Petrol In Nigeria From 1994 – 2016

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Over the years  price of petrol  as been regulated by various successive governments in Nigeria. In 2012 the Federal government announced the complete removal of petrol subsidy (Petrol was priced at N141 naira per liter )  which lead to a nationwide protests after which the government agreed to a partial removal of subsidy (Petrol was priced at N97 naira  per liter ).

In Jan 2015 government announced a price decrease in the regulated price of petrol (Petrol was priced at N87  naira  per liter ). In January 2016  government also announced another  price decrease  (Petrol was Priced at N86.50  naira  per liter )

Today the  country is currently  experiencing fuel supply challenges , government has announced a new price hike on 11th may 2016  signaling the removal of petrol subsidy (Petrol now priced  at N145 naira  per liter ).

Will this new policy finally ease supply challenges and stimulate more investment into the petroleum sector??????

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