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How Much Is Kerosene In Nigeria

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How Much Is Kerosene in Nigeria

Kerosene is one of the most commonly used fuels in Nigeria. It is widely used for cooking, lighting, and in some cases, transportation. Despite being an essential commodity, the price of kerosene in Nigeria has been fluctuating for a long time, causing concern among the citizens. In this article, we will discuss the current price of kerosene in Nigeria, the factors that affect its price, and how it compares to other countries in the world.

What is Kerosene?

Kerosene is a flammable liquid that is derived from crude oil. It is a by-product of the refining process and is used for a variety of purposes. Kerosene is a clear, colorless liquid that has a distinct odor. It is also known as paraffin oil, lamp oil or coal oil.

The Current Price of Kerosene in Nigeria

The price of kerosene in Nigeria varies from state to state and even from one market to another. As of April 2021, the average price of kerosene in Nigeria is between N165 to N250 per liter. This price is relatively high compared to other countries in Africa. In Ghana, for example, the price of kerosene is around GHS 7.50 (N520) per gallon, which is cheaper than Nigeria.

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Factors That Affect the Price of Kerosene in Nigeria

Several factors contribute to the fluctuation of kerosene prices in Nigeria. Some of these factors include:

Crude Oil Prices

The price of crude oil is a major factor that affects the price of kerosene in Nigeria. Nigeria is one of the largest oil-producing countries in Africa, and as such, the price of kerosene is directly influenced by the price of crude oil in the global market.

Exchange Rate

The exchange rate of the Nigerian Naira against other foreign currencies also affects the price of kerosene in Nigeria. When the Naira is weak against other currencies, the price of kerosene tends to increase, and when it is strong, the price tends to decrease.

Government Policies

Government policies such as taxes, subsidies, and import tariffs also affect the price of kerosene in Nigeria. For instance, when the government increases taxes on kerosene, the price tends to increase, and when it reduces them, the price tends to decrease.

Transportation Costs

Transportation costs also contribute to the price of kerosene in Nigeria. When the cost of transportation increases, the price of kerosene tends to increase, and when it decreases, the price tends to decrease.

Comparison of Kerosene Prices in Nigeria and Other Countries

Compared to other countries in the world, kerosene prices in Nigeria are relatively higher. In the United States, for example, the average price of kerosene is around $3.50 (N1,330) per gallon, which is much cheaper than Nigeria. In India, the price of kerosene is around INR 59 (N320) per liter, which is also cheaper than Nigeria.

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Conclusion

Kerosene is an essential commodity in Nigeria, and its price affects millions of people who rely on it for cooking, lighting, and other purposes. The fluctuation of kerosene prices in Nigeria is caused by various factors, including crude oil prices, exchange rates, government policies, and transportation costs. Compared to other countries in the world, kerosene prices in Nigeria are relatively high.

FAQs

  1. Is kerosene available in all parts of Nigeria?
    Yes, kerosene is available in all parts of Nigeria, even in remote areas.

  2. How is kerosene sold in Nigeria?
    Kerosene is sold in liters, gallons, and bottles in Nigeria.

  3. Can kerosene be used as a substitute for diesel?
    Kerosene and diesel are similar fuels, but kerosene has a lower energy content than diesel. While it is possible to use kerosene as a substitute for diesel, it is not recommended.

  4. Is kerosene harmful to the environment?
    Kerosene is a fossil fuel, and its use contributes to climate change. It is also harmful to the environment when not disposed of properly.

  5. What alternatives are there to kerosene in Nigeria?
    There are several alternatives to kerosene in Nigeria, including LPG (cooking gas), solar power, and electric power.