Dealers Quote New Price for Cooking Gas, As NBS Shows 10 Cheapest State To Buy
- The NBS has revealed that dealers have made adjustment to the price of cooking gas across the country
- The bureau new data showed that refilling a 5kg cylinder increased by 1.26%, the price for a 12.5kg cylinder decreased
- Residents of Taraba, Lagos, and Benue are among states paying the highest prices, while North-East recorded the highest average retail price
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The National Bureau of Statistics has revealed that the average price for refilling a 5kg Liquefied Petroleum Gas (cooking gas) cylinder in Nigeria stood at N7,177.27 in December 2024
This marks a 1.26% increase from the average price of N7,088.16 recorded in November 2024
Source: Getty Images
The data also showed on a year-on-year basis, 5kg cooking gas prices for December 2024 represented a 44.62% increase from N4,962.87 in December 2023.
Also, Nigerians, on average, paid N17,274.16 in December 2024 to refill a 12.5kg cooking gas cylinder.
This is a slight decreased by 0.05% on a month-on-month basis when December price is compared to N17,283.58 Nigerians paid in November 2024.
On a year-on-year basis, however, this price rose by 50.08% from N11,510.16 in December 2023.
The NBS stated this in its latest price watch report published on its website and analysed by Legit.ng.
States with the highest average prices (5kg):
- Taraba: N8,074.41
- Lagos: N7,910.71
- Benue: N7,900.00
States with the lowest average prices (5kg):
- Delta: N6,455.00
- Ondo: N6,683.33
- Zamfara: N6,778.57
States with the highest average prices (12.5kg):
- Taraba: N20,290.75
- Yobe: N19,000.00
- Rivers: N18,710.94
States with the lowest average prices (12.5kg):
- Kebbi: N15,733.33
- Nasarawa: N15,875.00
- Kwara: N16,109.38
How to reduce cooking gas prices?
Legit.ng earlier revealed that Suresh Kumar, the Managing Director and CEO of NIPCO Plc has outlined key measures needed to reduce the cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in Nigeria.
The Sun reports that he gave the hints while speaking at the 2024 National Conference of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), themed “Sustainable Energy Growth in Nigeria – LPG and the Future.”
Kumar stated that the key to reducing the rising cost of cooking gas lies in supporting local refineries, such as the Dangote Refinery, to enhance domestic gas production.
He said:
“It is crucial for the government to back these refineries in their efforts to significantly increase LPG output. This will drive down retail prices and make the product more accessible to Nigerians.
“There is hope that the reliance on imported LPG will decrease, which will positively influence the prices at which the product is sold domestically. Greater local production will make LPG more affordable since it reduces exposure to foreign exchange fluctuations and international pricing dynamics.”
FG begins clampdown on illegal sellers of cooking gas
Legit.ng reported that the Nigerian Upstream and Downstream Petroleum Regulatory Authority (NMDPRA) has begun clamping down on illegal liquified natural gas (LPG) sellers in Akwa Ibom state.
The agency decried how the product is being dispensed by illegal dealers in the state, including some fueling stations.
He asked gas plants to stop loading gas for those unlicensed by the NMDPRA.
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Source: Legit.ng
