Cooking gas costs 12.31% more YoY
By Jeph Ajobaju, Chief Copy Editor
Cooking gas 12.5kg refill average price has risen 12.31 per cent in the past one year, the National Bureau of Statistics (NBS) has just disclosed in its “Cooking Gas Price Watch” report.
It noted the average price increased 12.31 per cent year-on-year (YoY) from N10,248.97 in December 2022 to N11,510.16 in December 2023 but grew 3.18 per cent month-on-month (MoM) from N11,155.15 in November to N11,510.16 in December 2023.
Top 3 states with the highest price
- Cross River – N13,572.22
- Edo – N13,265.63
- Delta – N13,041.67
Bottom 3 states with the lowest price
- Anambra – N10,264.29
- Imo – N10,150.90
- Ebonyi – N10,142.86
Top 2 zones with the highest price
- South South – N12,700.14
- North Central – N11,585.89
Zone with the lowest price
- South East – 10,632.14
5kg refill
The NBS said 5kg refill average price jumped 8.70 per cent YoY from N4,565.56 in December 2022 to N4,962.87 in December 2023, but grew 2.79 per cent between November and December 2023, per The Nation.
Top 3 states with the highest price
- Adamawa – N5,725.33
- Jigawa – N5,686.88
- Lagos – N5,671.05
Bottom 3 states with the lowest price
- Imo – N4,088.24
- Ebonyi – N4,071.43
- Abia – N4,155.88
Top 2 zones with the highest price
North East – N5,256.61
North West – N5,144.50
Zone with the lowest price
South East – N4,155.59
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Abuja on plans to reduce cooking gas price
Abuja announced in November 2023 plans to reduce the pricing of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, in the domestic market.
A statement issued by Louis Ibah, spokesman for the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, said the Minister intervened at a meeting following a rise in the price of LPG per kg from about N700 to above N1,100 in some parts of the country.
The meeting was held at NNPC Towers, Abuja at the behest of Ekpo and was attended by top officials of Chevron Nigeria led by Sansay Narasimi; Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) led by Chief Executive Officer Farouk Ahmed and the Nigerian National Petroleum Corporation (NNPC).
The key factors for LPG price increase include foreign exchange (forex) sourcing for imports and insufficient supply to the domestic market by producers.
“We acknowledge that some producers are exporting while we are faced with the challenges of importation,” the statement said.
“Public interest is the overriding interest all over the world for the government, and the demand for LPG will increase ….
“You have a public service obligation to collaborate with the government to ensure the security of gas supply, we need to therefore bend backwards and find solutions, to ensure that we have sufficient supply and stability in-country and that Nigerians have gas.”