PETROL AT N145? DIFFERENT STATES, DIFFERENT IMPACT.


When petrol dealers in Nigeria were recently allowed to source and sell petrol at not more than N145 per litre, the average price of the product nationwide dropped by 7.7% to N150.28 in May from N162.82 in April per litre.

That is, according to figures for May released by the National Bureau of statistics for May.

The report also shows quite clearly that the impact of the partial liberalisation was different for different States of the federation.

Some, recorded average price drops while increase was the lot of another set.

For example, according to the report, top five States that recorded some relief from the move were IMO, Edo, Anambra, Ekiti and Abia states in that order.

Top five with increased average per litre price were Lagos, Taraba, Oyo, Zamfara and Benue states.

In IMO state, the average price per litre in May fell 27.7% to N147.2 from N203.48 in April while in Edo it went down by 24.7% to N146.25 per litre average in May from April's N194.29.

Anambra came in a close third amongst the relieved states as its average per litre dropped 24.1% to N147.68 from N193.85 in April followed by Ekiti, down 22.9% to N156.49 from N202.78 and Abia with 22.1% decrease to N149.29 per litre average in May from N191.67 in April.

Many other States recorded lower percentage drops in their average pump price per litre.

From the same report, Lagos state topped the most hit states with May average pump price at N144.75 compared to N92.59 in April. This was 56.3% up.

From a little distance Taraba state came second with 37.5% increase to N161.11 in May from April's N117.14 followed by Oyo , up 27.8% to N145.22 from April's N113.65 and Zamfara where average pump price in May was N145 per litre, representing 26.6% increase on N114.54 in April.

Also among the top five was Benue state where average price per litre rose by 20.6% to N162.27 from N134.5.

Lastly, from the report, the top five states with highest per litre average price by May were Ebonyi,( N165); Benue (N162.27); Bayelsa (N161.13 despite 13.2% drop from April's N186.25); Nassarawa( down 6.61% to N160.13) and Ekiti (N156.39 per litre).

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more