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Gowon 8.45k to Buhari N145: Updated timeline of fuel price increase in Nigeria

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Following the latest hike in the price of petrol in Nigeria from N87 per litre to N145 per litre by president Muhammadu Buhari on Wednesday, May 11, 2015, encomium.ng takes a look at the history of petrol price increase in Nigeria’s history….

 

  • Gowon-1973: 6k to 8.45k
  • Murtala-1976: 8.45k to 9k
  • Obasanjo -Oct 1,1978: 9k to 15.3k
  • Shagari-Apr 20,1982: 15.3k to 20k
  • Babangida-Mar 31, 86: 20k to 39.5k
  • Babangida-Apr 10, 1988: 39.5k to 42k
  • Babangida-Jan 1, 1989: 42k to 60k(Private Vehicles)
  • Babangida- Mar 6, 1991: 60k to70k
  • Shonekan(82 days in power)-Nov 8, 1993: 70k to N5
  • Abacha- Nov 22, 1993: N5 to N3.25k(price dropped)
  • Abacha-Oct 2, 1994: N3.25k to N15
  • Abacha-Oct 4, 1994: N15 to N11(price dropped)
  • Abubakar-Dec 20, 1998: N11 toN25
  • Abubakar-Jan 6,1999: N25 to N20(price dropped)
  • Obasanjo -June 1, 2000: N20 to N30
  • Obasanjo-June 8, 2000: N30 to N22(price drops)
  • Obasanjo-Jan 1, 2002: N22 to N26
  • Obasanjo-june, 2003: N26 to N42
  • Obasanjo-May 29, 2004: N42 to N50
  • Obasanjo-Aug 25, 2004: N50 to N65
  • Obasanjo-May 27, 2007: N65 to N75
  • Yar’ Adua-June, 2007: back to N65(price drops)
  • Jonathan (New year present)-Jan 1,2012: N141 GEJ(Labour strike forced him)-Jan 17, 2012: N97
  • Jonathan (Feb, 2015 when Election approached) N87
  • Buhari increased the price of petrol from N87 to N145 on Wednesday, May 11, 2016.

Yar’Adua is the only president who did not increase pump price. He reduced it from N75 to N65.

DanielFayemi for encomium.ng

 

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