News that the Nigerian National Petroleum
Corporation (NNPC) has increased the price of
petrol at its retail outlets by N4 from N141 to
N145 per litre as at November 4, 2016 has led
to many concerns among Nigerians.
An increase in fuel price has always been
greeted by fear and concern among Nigerians,
as the pump price of fuel seems to affect every
aspect of the economy, from transportation to
food.
Here is a list showing how fuel prices have
increased in Nigeria:
1. Yakubu Gowon (1973)
General Yakubu “Jack” Dan-Yumma Gowon
was born October 19, 1934 and he is the
former head of state of Nigeria from 1966 to
1975. He took power after one military coup
d’état and was overthrown in another. He
increased the price of fuel from 6 kobo to 8.45
kobo.
2. Murtala Muhammed (1976)
General Murtala Ramat Muhammed was the
military ruler of Nigeria from 1975 until his
assassination in 1976. he increased the price
of fuel from 8.45 kobo to 9 kobo.
3. General Olusegun Obasanjo (1978)
October 12, 1977, Manhattan, New York, New
York, USA — New York: Lt. General Olusegun
Obasanjo of Nigeria addressing the United
Nations. — Image by © Bettmann/CORBIS
During his first stint as President of Nigeria,
from February 1976 to October 1, 1979 he
increased the price of fuel from 9 kobo to 15.3
kobo in 1978.
4. Shehu Shagari (1982)
Shehu Usman Aliyu Shagari, served as the
second President of Nigeria’s second republic,
after the handover of power by General
Olusegun Obasanjo’s military government. He
increased fuel price from 15.3 kobo to 20
kobo on April 20, 1982.
5. Ibrahim Babaginda (1986 – 1991)
Ibrahim Badamasi Babangida, also known as
IBB, is a retired Nigerian Army General who
was President of Nigeria under military rule.
He changed the fuel price a lot under his rule.
On March 31, 1986 he increased it from 20
kobo to 39.5 kobo. On April 10, 1988, he
changed it from 39.5 kobo to 42 kobo, on
January 1 1989, he moved it once again to 60
kobo and by March 6, 1991, fuel sold for 70
kobo.
6. Ernest Shonekan (1993)
Ernest Adegunle Oladeinde Shonekan is a
British-trained Nigerian lawyer, industrialist,
politician and traditional chieftain. He was
appointed as interim president of Nigeria by
General Ibrahim Babangida on August 26,
1993. He ruled for only 82 days and 73 days
into his rule, he increased fuel price from 70
kobo to 5 Naira.
7. Sani Abacha (1993- 1994)
Sani Abacha was a Nigerian Army general and
politician who served as the de facto
President of Nigeria from 1993 to 1998.
during his rule he dropped the price of fuel on
November 22, 1993 from 5 Naira to N3. 25k
and October 2, 1994, he increased it to N15
and then later dropped it to N11.
8. Abdusalami Abubakar (1998 – 1999)
Abdulsalami Alhaji Abubakar is a retired
Nigerian Army General who was military
President of Nigeria from June 9, 1998 till
May 29, 1999.
On December 20, 1998, he increased the fuel
price from N11 to N25 and on January 6,
1999 he dropped the price to N20.
9. Olusegun Obasanjo (2000 – 2007)
During his 2nd stint as civilian president, fuel
price first increased on June 1, 2000 from
N20 to N30 and on June 8, 2000 it drops to
N22 and it increases on January 1, 2002 to
N26 and in June, 2003, it moves to N42 and
up and up it went. May 29, 2004: N42 to N50;
August 25, 2004: N50 to N65; May 27, 2007:
N65 to N75.
10. Musa Yar’Adua (2007)
Umaru Musa Yar’Adua was the 13th President
of Nigeria. He served as governor of Katsina
state from May 29, 1999 to May 28, 2007.
Under him the price of fuel dropped to N65.
11. Goodluck Jonathan (2012)
Goodluck Ebele Azikiwe Jonathan, is the
former President of Nigeria, having served
from 2010 to 2015. On January 1, 2012, he
increased the price to N141, but the ensuing
labor strike forced him to change it back on
January 17, 2012 to N97. And on February,
2015 it dropped further to N87.
12. Muhammadu Buhari (2016)
Nigeria’s current President, Muhammadu
Buhari increased the price of petrol from N87
to N141 on Wednesday, May 11, 2016.
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