Wednesday, January 4, 2012

Price transmission in Nigeria

With the fuel subsidy's disappearance, the price of gasoline increased from N65 ($0.40) to N140-N150 (just under $1). What other prices go up and how quickly? I'll be updating this post from time to time with new prices as I learned them:

Small plastic bag with water: N5 up to N10; larger bag in Lagos from N60 to N150 Jan 4   (reported through Twitter from numerous sources)

Jan 5 from our shopping - taxi service price up from N1000/hour to N2000/hr; water jug refills unavailable; most food sold at the same price; lower selection of bread than usual; 

Jan 5 NigeriaNewsDesk Twitter report: Many filling stations outside Calabar, the Cross River State capital, are selling premium motor spirit, popularly known as petrol, for N250

Fourth-hand Twitter report: Packet of St Louis Sugar was N100. Post subsidy N250

A student reports: A bowl of raw foreign rice has gone from N250 to N270 in Kaduna while a similar bowl of black eyed peas has gone from N120 to N180.

Jan 9 - water jug refill up from N350 to N375. Tailoring services and fabric same price as before.

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