No More 1400/kg: Price of Cooking Gas Crashes in Lagos, Ogun, Oyo, Others
- The price of cooking gas is now declining across different markets in various states in Nigeria
- An investigation found that some marketers are now selling cooking gas for less than N1,000 per kg
- This is a significant improvement from the average price of N1,400, which it sold in previous months
PAY ATTENTION: Legit.ng Entertainment Awards 2024 Voting Is Alive. Choose the best entertainer in 15 categories for FREE.
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Cooking gas, also known as liquefied petroleum gas, is becoming less expensive in various markets nationwide.
Source: Getty Images
Customers in Ogun, Lagos, Oyo, and other locations who spoke with the Punch confirmed the development. They said the typical cost of one kilogramme of cooking gas is currently approximately N1,000 or less.
They, however, noted that it depends on the vendor and the region.
Recall that in certain places, the cost of LPG increased to approximately N1,300 between February and March.
New cooking gas price
Investigations revealed that prices are steadily declining across the country. There are indications that this might be linked to the naira's April recovery, which saw it rise from roughly N1,900 to roughly N1,500 per dollar.
Adedokun Ojo, a resident of Abule Egba in Lagos, said she purchased 1 kg of LPG from Mobil for N940 recently.
“LPG is now N940 per kg. I still bought it yesterday evening at Mobil in Abule Egba,” Ojo said.
Additionally, Uzor Nneka, an Enugu resident, revealed she paid N1,000 for a kilogram of gas at the Romchi plant in Enugu.
Jonathan Igbowu, a resident of the Idiroko, a border community of Ogun state, also said:
“1kg of cooking gas used to be N1,300 before, but now it is N1,050. The price is coming down.”
However, costs vary in Idiroko depending on the seller. In the Aferiku neighbourhood of the town, Nojim Ajani said that the price of 1 kg of LPG was N750 recently.
Also speaking, Ibrahim Ogunleye stated that the product was previously sold for N1,400 in Offa, Kwara state but now goes for N1,200 per kg.
According to Quadri Yusuf, who lives in Idi-Aba, Abeokuta, cooking gas is currently N800/kg, down from N1,200 in April.
However, Muraina Akintunde of Ayetoro stated that the current price is N1,200/kg in the area. She claimed that the price was N1,400 until the last week of May.
On their part, Folake Ogunwemimo said a kilogramme of LPG costs N1,100 in Ilaro, while Kazim Ajose said he got it in Sango-Ota, Ogun state, for N970.
What FG speaks on cooking gas price
Speaking about the development, minister of petroleum resources (gas), Ekperikpe Ekpo, stated that the federal government, through the ministry of petroleum resources (gas), has been working to increase the amount of locally produced cooking gas entering the local market.
Ekpo said this effort has the full support of relevant regulatory agencies in the sector and operators. The minister said the result has been a decrease in the price of LPG.
Ekpo, who spoke through his media assistant, Louis Ibah, stated that the domestication of LPG export has decreased reliance on imported LPG.
He added that the associated additional expenses were brought on by variations in foreign exchange rates.
Nigerian company slashes cooking gas price
Legit.ng earlier eported that the Second Coming Nigeria Limited, an Enugu-based Liquefied Petroleum Gas marketing company, slashed the price of its cooking gas from N960 to N672 per kilogramme.
The gesture is expected to benefit at least 4,000 residents in different parts of Enugu state.
Basil Ogbuanu, the chief executive officer of the company, confirmed the change of price on Wednesday, May 29, 2024.
Proofreading by James Ojo Adakole, journalist and copy editor at Legit.ng.
PAY ATTENTION: Stay Informed and follow us on Google News!
Source: Legit.ng
