Business
Petrol Prices Surge to N950 per Liter in Katsina as Average Hits N770.54
According to the Nigeria Bureau of Statistics (NBS), the price of Premium Motor Spirit (Petrol) reached its peak at N950 per litre in July 2024. The NBS July Petrol Price Watch report indicates that Katsina State experienced the highest price, set at N950 per litre.
Following closely are Jigawa and Benue States, where the prices were N903.08 and N846.95 per litre, respectively.
In contrast, Kwara, Edo, and Akwa Ibom States reported the lowest average retail prices for petrol, with Kwara at N650.00, Edo at N669.75, and Akwa Ibom at N673.75 per litre.
The average price of petrol for July 2024, as reported by NBS, was N770.54 per litre. This significant increase in fuel prices follows the Nigerian government’s decision to remove fuel subsidies. Before this policy change, the price of petrol was N238 per litre in May 2023.
- MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
- Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
- Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
- Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
- Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
- Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
- Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
- Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
- NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
- Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
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