Despite improved supply, the price of cooking gas in Nigeria surged by 69% in August 2024, according to the National Bureau of Statistics (NBS). The average retail price for refilling a 5kg gas cylinder jumped from N4,115.32 in August 2023 to N6,430.02, a yearly increase of 56.25%. Monthly, the price rose by 7.62%, climbing from N5,874.55 in July 2024.
States like Benue, Sokoto, and Rivers reported the highest prices for a 5kg cylinder, with Benue recording an average of N7,000. On the other hand, Taraba had the lowest price at N5,600.67. A zonal analysis showed the South East had the highest average prices, while the North-Central recorded the lowest.
Similarly, the price for refilling a 12.5kg gas cylinder increased by 9.05% from N14,261.57 in July 2024 to N15,552 in August, with Rivers and Cross River topping the list of states with the highest prices.
Many Nigerians have expressed concerns over the rising cost of liquified petroleum gas (LPG), calling for urgent government intervention to alleviate the burden on households.
