Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»News»African News»West African News»Nigeria News»Petrol Subsidy, Population, Rise In The Price Of Real Estate Increase Nigeria’s Mileage By 22.8%

    Petrol Subsidy, Population, Rise In The Price Of Real Estate Increase Nigeria’s Mileage By 22.8%

    Nigeria News By AdminNov 26, 2015No Comments3 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    Lagos Places Nigeria on Top of Global Mileage Ranking

    At present, Nigeria a country dependent on crude oil is experiencing a shortage of the product called petrol which has affected the daily activities of commuters. Even with the scarcity of petrol, Nigeria still comes on top in the average mileage ranking. The Carmudi team compared average country mileage and found out that population growth; rise in the price of real estate and petrol subsidy affects the distance cars travel. The cars examined ranged from 2 to 5 years old.

    The research revealed that Nigeria’s average is 22.8% higher than the global calculation. The average mileage for used cars in Nigeria amounted to 51,764 km. After the first two years of driving, cars in Nigeria averaged 35,714 km. The number of miles on average almost doubles after five years to amount to 59,938 km showing a steady increase in the distance travelled by commuters.

    The leading contributor to the higher than average mileage in Nigeria is Lagos. The city population has grown 20% since 2006 due to urban migration, favorable business conditions and high birth rates. Due to the population increase, the former capital is experiencing a significant housing shortage, as well as high levels of migration from the countryside, pushing real estate prices up. Lagos state government estimates that 4 million homes must be constructed to close the current housing gap.  The outskirts of Lagos have become preferable in terms of residential areas and people prefer to travel from the outskirt to the city and back on a regular basis to avoid sky high real estate prices. This has increased the collective millage for Lagos state and ultimately Nigeria on the global ranking.

    See also  Nigerian, Chinese companies seal deal on power projects

    When examining diesel vs. petrol cars in Nigeria, we see that cars powered by petrol fuel are clearly driven more. Petrol cars in Nigeria were driven 77% further on average than diesel cars. The main contributing factor is petrol state subsidies, which make driving petrol cars cheaper on average. It’s also the reason for continuous increase in amount of petro cars on Nigerian roads.

    Citing listings and search trends on the Carmudi website, Amy Muoneke, Managing Director Carmudi Nigeria said “over 97% of the cars listed on the website are petrol engine cars and 99% percent of the people searching for cars on the Carmudi Nigeria website search for petrol engines. Even though diesel powered cars are cheaper, searchers still prefer buying petrol powered cars and with over 35,000 plus listings Carmudi Nigeria offers a wide range of cars for car buyers to choose from.

    See also  National Electronic ID Card Not Substitute For International Passport – NIMC

    About Carmudi

    Carmudi was founded in 2013 and is currently available in Bangladesh, Cameroon, Congo, Ghana, Indonesia, Ivory Coast, Mexico, Myanmar, Nigeria, Pakistan, Philippines, Qatar, Rwanda, Saudi Arabia, Senegal, Sri Lanka, Tanzania, United Arab Emirates, Vietnam, and Zambia. The vehicle marketplace offers buyers, sellers and car dealers the ideal platform to find cars, motorcycles and commercial vehicles online.

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    Carmudi Fuel Subsidy Lagos State Nigeria News Petrol Subsidy population real estate
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    Nigeria politics not for poor people – Ogunlewe

    Jun 7, 2023

    INEC releases final candidates’ list for Bayelsa, Imo, Kogi guber poll

    Jun 7, 2023

    Tinubu should direct Adamu to fast-track APC midterm convention – Lukman

    Jun 7, 2023

    Attack on members: PDP wants Ogun tribunal proceedings televised live

    Jun 7, 2023
    Add A Comment

    Comments are closed.

    Get Social with Us
    • Facebook
    • Twitter
    • Pinterest 94
    • Instagram
    • YouTube
    Latest Posts

    I Want To Be Remembered As A Good And Kind Person After I Die – Chris Hemsworth

    Jun 8, 2023

    I’ll Play For Flamengo Again Someday In The Future – Vinicius Junior

    Jun 8, 2023

    My Ex Husband Will Remain The Love Of My Life – Carolyna Danjuma

    Jun 8, 2023

    Barcelona Told Alba, Busquets And I That We Were Responsible For Our Huge Salaries – Pique

    Jun 8, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    Wale Retraces His Past

    Oct 1, 2018

    We Have 40 Million Members, PDP Panicky — APC

    Jun 15, 2021

    Don’t Tell Me What To Do With My Son, I Birth Him Alone – Tonto Dikeh

    Mar 31, 2019

    Osun State Governorship Election Petition Tribunal Should Face Reconstitution – PDP

    Oct 20, 2018

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?