History of fuel price increase in Nigeria

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Five decades ago fuel was sold at 6Kobo in Nigeria.

It was in 1973 that Yakubu Gowon increased the price of fuel from 6Kobo to 8.45K

In 1978 General Olusegun Obasanjo increased from 8.45Kobo to 15.3Kobo

In 1982 Shehu Shagari increased from 15Kobo to 20Kobo

In 1986 Ibrahim Badamosi Babangida increased from 20Kobo to 39.5Kobo, and again in 1988 he increased to 42Kobo, later from 42Kobo to 68Kobo, and thereafter he increased again in 1991 to 70Kobo

Ernest Shonekan spent 82days in power but increased the pump price from 70kobo to N5.00

In 1993 Sani Abacha decreased the price of fuel from N5 to N3.25k.
And later skyrocketed fuel pump price to N15.
Because of the masses outcry in 1994, he reduced it to N11

In 1998 Abdulsalam Abubakar increased it from N11 to N25, but later decreased to N20 in 1999

In 2002 President Obasanjo increased from N20 to N50, but decreased in the same year to N22.
In 2002 he increased it to N26, and thereafter skyrocketed it to N42 in 2003. In 2004 OBJ increased it to N65 and left office in 2007 after increasing the pump price to N75

In 2007 Umaru Musa Yar’Adua reduced OBJ pump price to N65

In 2012 Goodluck Ebele Jonathan increased it to N141, but later reduced to N97
As the people were not comfortable with N97, that same year GEJ reduced it to N87 before leaving office 2015.

Muhammadu Buhari came in and increased in 2016 to N141, from that time till date fuel price has been increasing surreptitiously without official public directive from N141 to N165 to N212.
While the Presidency and Pretroleum Products Regulatory Agency PPRA is denying any knowledge of fuel pump price increase in the country, all fueling stations are selling at N212 since yesterday Friday 12th March 2021.

About Samuel Abasiekong 519 Articles
Samuel Abasiekong, Senior Journalist, Newspaper Publisher, Author of many literature text books, French-English, English-French languages Translator and Interpreter, Multi-sectoral Counsellor & Consultant, National Convener of National Public Interest Group - NPIG, Secretary Uyo Division of the Nigerian Red Cross Society, News Editor & Reporter @ 9News Nigeria www.9newsng.com www.facebook.com/9NewsNG

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