The price of cooking gas, also known as liquefied petroleum gas, or LPG, increased by 38% on a month-over-month (MoM) basis. A 12.5 kilogramme cylinder now costs N16,250, up from N11,735.72 in January 2024, according to Vanguard’s research.
The research also revealed that the cost of 1 kilogramme of petrol rose from N950 to N1,300, a 37 percent rise.
According to the Nigeria Bureau of Statistics’ most recent report, Liquefied Petroleum Price Watch, January 2024, the average retail price of N5, 139.25 was paid in January 2024, a 3.55 percent increase Month-on-Month (MoM), for refilling a 5-kg cooking gas cylinder, compared to N4 952.87 in December 2023.
On a year-on-year, YoY basis, this climbed by 12% to N5,139.25 in January 2024 from N4.588.75 in the same month in 2023.
According to the NBS, Nassarawa State had the highest average price for refilling a 5kg cylinder of cooking gas, at N5,790.00, followed by Jigawa State at N5,681.82 and Gombe State at N5,660.00.
Kaduna State on the other hand, had the lowest price of N4, 150.00, followed by Ogun and Osun States at N4, 751.04 and N4, 763.53, respectively.
cc: Vanguard Ng
