The average retail price of N9,247.40 in September 2023 to N10,545.87 in October 2023 was the month-over-month increase in the cost of refilling a 12.5 kilogram cylinder of Liquefied Petroleum Gas (Cooking Gas).
The National Bureau of Statistics’ most recent LPG (cooking gas) price watch for October 2023 states as much.
In October 2022, the cost of cooking gas was N10,050.53, a 4.93% rise over the same period in the previous year.
Additionally, Nigeria’s average retail price for five kilograms of gas rose by 8.89% from N4,189.96 in September to N4,562.51 in October.
According to the NBS, the price of 5kg cooking gas rose by 1.76% from the N4,483.75 for October 2022.
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Cost of cooking gas across states
When compared across states, Edo emerged with the highest average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) at N12,536.88, trailed by Jigawa at N12,050.00 and Delta at N11,987.50.
On the other hand, Zamfara saw the lowest price of cooking gas at N9,050.00, followed by Lagos and Oyo at N9,071.05 and N9,407.14, respectively.
When compared across geopolitical zones, the South-South region recorded the highest average retail price for the same gas cylinder size at N11,480.60, followed by the North-Central at N10,683.97, while the South-East recorded the lowest average price at N9,847.42.
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Why cooking gas price is rising
A recent report by Nairametrics explained that cooking gas prices are increasing for two reasons-low investment in natural gas exploration across the country and low production of associated gas because of crude oil theft rampant in the Niger Delta.
Although Nigeria boasts of over 200 trillion cbf of natural gas reserve which puts her among the top ten countries with the largest gas reserves in the world, low investment has result in her being an importer of LPG.
The average retail price of N9,247.40 in September 2023 to N10,545.87 in October 2023 was the month-over-month increase in the cost of refilling a 12.5 kilogram cylinder of Liquefied Petroleum Gas (Cooking Gas).
The National Bureau of Statistics’ most recent LPG (cooking gas) price watch for October 2023 states as much.
In October 2022, the cost of cooking gas was N10,050.53, a 4.93% rise over the same period in the previous year.
Additionally, Nigeria’s average retail price for five kilograms of gas rose by 8.89% from N4,189.96 in September to N4,562.51 in October.
According to the NBS, the price of 5kg cooking gas rose by 1.76% from the N4,483.75 for October 2022.
Read Also: States, Abuja Generated N1.9 Trillion as IGR in 2022; Oyo, Lagos, Jigawa Recorded Highest LGA Earnings: NBS
Cost of cooking gas across states
When compared across states, Edo emerged with the highest average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) at N12,536.88, trailed by Jigawa at N12,050.00 and Delta at N11,987.50.
On the other hand, Zamfara saw the lowest price of cooking gas at N9,050.00, followed by Lagos and Oyo at N9,071.05 and N9,407.14, respectively.
When compared across geopolitical zones, the South-South region recorded the highest average retail price for the same gas cylinder size at N11,480.60, followed by the North-Central at N10,683.97, while the South-East recorded the lowest average price at N9,847.42.
Read Also: Price of Petrol Surged by 226% From September 2022 to September 2023: NBS
Why cooking gas price is rising
A recent report by Nairametrics explained that cooking gas prices are increasing for two reasons-low investment in natural gas exploration across the country and low production of associated gas because of crude oil theft rampant in the Niger Delta.
Although Nigeria boasts of over 200 trillion cbf of natural gas reserve which puts her among the top ten countries with the largest gas reserves in the world, low investment has result in her being an importer of LPG.
