"No More N4k": Cooking Gas Prices for 5kg and 12.5kg to Increase as Nigeria LNG 10-Month Woes Continue
- Nigerians have to get ready to pay higher prices to refill their 5kg and 12kg cooking gas cylinders in the coming days
- The Nigerian Association of Liquefied Petroleum Gas Marketers has stated that prices will have to be adjusted
- The marketers listed various reasons for the expected change in retail prices as Nigeria LNG continues to battle a 10-month-long supply issue
The price of Liquefied Petroleum Gas (cooking gas) is set to increase next week, a development expected to put severe pressure on the finances of Nigerian households.
In recent months, the price of cooking has been on a downward trend, but that is about to change, according to marketers.
Source: Getty Images
Legit.ng earlier reported that in June, the average retail price for refilling a 5kg cylinder of cooking gas decreased by 6.71% month-on-month from N4,360.69 recorded in May 2023 to N4,068.26 in June 2023.
Similarly, the average retail price for refilling a 12.5kg cooking gas cylinder decreased by 4.35% monthly from N9,537.89 in May 2023 to N9,123.25 in June 2023.
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Cooking gas prices set to change
The situation is about to change as Olatunbosun Oladapo, President of the Nigerian Association of Liquefied Petroleum Gas Marketers, has announced that price changes are set to be implemented next week.
Although he did not specify the extent of the increase, he attributed it to the escalating international prices, elevated tax rates, and vessel costs.
Others include forex scarcity and naira devaluation, Punch reports.
His words:
“It is starting next week because international prices have gone up. The prices of vessels have gone up, and taxes are high, but consumers are not earning more.
“Their purchasing power has gone down. Everybody is crying. Consumers, middlemen, and retailers are feeling the impact because business is now on the low side."
Olatunbosun added that while the price increase is unfortunate, it is inevitable.
He said
“The situation is very unfortunate because prices are going higher. Nigerian consumers are passing through very difficult times because they can no longer afford gas."
Nigeria LNG’s force majeure continues after 10 months
In another development, Nigeria LNG (NLNG) has said that the force majeure it declared in October 2022 due to widespread flooding that disrupted supply will continue.
Force majeure refers to unforeseeable external circumstances that prevent a contracting party from performing its obligations.
Reuters reports that Andy Ode, NLNG spokesman explained that the challenges subsist due to the unavailability of upstream gas suppliers’ major liquids evacuation pipelines occasioned by sabotage and vandalism, still impacting feed gas supplies.
Man invents stove that uses only water to cook
Meanwhile, a 67-year-old Nigerian man, Hadi Usman, invented a water-cooking stove that doesn't require gas or kerosene to make fire.
The unique stove combines water and air pressure to produce fire, an amazing concept he demonstrated in a video.
The electronics technician is seeking the support of relevant institutions to ensure the innovation is mass-produced.
Source: Legit.ng
