DATE PRICE (per L) REGIME %INCREASE

Jan, 1966 - Sep, 1978 ₦ 0.09Gen T. Aguiyi-Ironsi, Gen Y.

Gowon, Gen M. Muhammed

Oct 1, 1978 ₦ 0.15 Gen O. Obasanjo 74.24% 74.24%

Apr 20, 1982 ₦ 0.20 Alh S. Shagari 30.43% 30.43%

Mar 31, 1986 ₦ 0.40 Gen I. Babangida 97.50%

Apr 10, 1988 ₦ 0.42 Gen I. Babangida 6.33%

Jan 1, 1989 ₦ 0.42 Gen I. Babangida 0.00% 250%

Dec 19, 1989 ₦ 0.60 Gen I. Babangida 42.86%

Mar 6, 1991 ₦ 0.70 Gen I. Babangida 16.67%

Nov 8, 1993 ₦ 5.00 Chief E. Shonekan 614.29% 614.29%

Nov 22, 1993 ₦ 3.25 Gen S. Abacha -35.00%

Oct 2, 1994 ₦ 15.00 Gen S. Abacha 361.54% 120%

Oct 4, 1994 ₦ 11.00 Gen S. Abacha -26.67%

Dec 20, 1998 ₦ 25.00 Gen A. Abubakar 127.27% 82%

Jan 6, 1999 ₦ 20.00 Gen A. Abubakar -20.00%

Jun 1, 2000 ₦ 30.00 Chief O. Obasanjo 50.00%

Jun 8, 2000 ₦ 25.00 Chief O. Obasanjo -16.67%

Jun 13, 2000 ₦ 22.00 Chief O. Obasanjo -12.00%

Jan 1, 2002 ₦ 26.00 Chief O. Obasanjo 18.18%

Jun 20, 2003 ₦ 40.00 Chief O. Obasanjo 53.85% 250%

Jul 9, 2003 ₦ 34.00 Chief O. Obasanjo -15.00%

Oct 1, 2003 ₦ 38.50 Chief O. Obasanjo 13.24%

May 29, 2004 ₦ 49.90 Chief O. Obasanjo 29.61%

Jan, 2005 ₦ 50.50 Chief O. Obasanjo 1.20%

Aug, 2005 ₦ 65.00 Chief O. Obasanjo 28.71%

May, 2007 ₦ 70.00 Chief O. Obasanjo 7.69%

Jun, 2007 ₦ 65.00 Alh U. M. Yar'dua -7.14% -7.14%

Jan 1, 2012 ₦ 138.00 Dr. G. E. Jonathan 112.31% 49.23%

Jan 16, 2012 ₦ 97.00 Dr. G. E. Jonathan -29.71%

Changes in Petrol Prices during each Regime

President Initial Price Final Price Avg. δ (%)

Gen Thomas Aguiyi-Ironsi, Gen Yakubu

Gowon, Gen Murtala Muhammed₦ 0.09 ₦ 0.09

0%

Gen O. Obasanjo ₦ 0.09 ₦ 0.15 70%

Alh S. Shagari ₦ 0.15 ₦ 0.20 30%

Gen I. Babangida ₦ 0.20 ₦ 0.70 250%

Chief E. Shonekan ₦ 0.70 ₦ 5.00 614%

Gen S. Abacha ₦ 5.00 ₦ 11.00 120%

Gen A. Abubakar ₦ 11.00 ₦ 20.00 82%

Chief O. Obasanjo ₦ 20.00 ₦ 70.00 250%

Alh U. M. Yar'dua ₦ 70.00 ₦ 65.00 -7%

Dr. G. E. Jonathan ₦ 65.00 ₦ 97.00 49%

Summary of Changes in Petrol Prices during each Regime

Country Price ($) Price (N)

Algeria 0.32 52.80

Angola 0.65 107.25

Bahrain 0.21 34.65

benin rep 1.04 171.60

cameroon 1.20 198.00

ecuador 0.53 87.45

ghana 0.82 135.30

iran 0.36 59.40

iraq 0.78 128.70

kuwait 0.23 37.95

libya 0.17 28.05

nigeria 0.86 142.31

omar 0.31 51.15

qatar 0.19 31.35

saudi arabia 0.16 26.40

togo 1.18 194.70

uae 0.47 77.55

uk 1.92 316.80

usa 0.76 125.40

venezuela 0.02 3.30

Price of Petrol for different Countries

₦ 165.00

Exchange rate

($ →₦)