Cooking gas price rises 44.62% in one year

The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, increased by 44.62 per cent between December 2023 and December 2024, according to a report by the National Bureau of Statistics (NBS).

The NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch for December 2024 shows that the average retail price for refilling a 5kg cylinder rose from ₦4,962.87 in December 2023 to ₦7,177.27 in December 2024, reflecting a year-on-year increase of 44.62 per cent.

On a month-on-month basis, the price increased slightly by 1.26 per cent, rising from ₦7,088.16 in November 2024.

Taraba State recorded the highest average price for refilling a 5kg cylinder, at ₦8,074.41, followed by Lagos at ₦7,910.71, and Benue at ₦7,900.

The report also highlighted the increase in the cost of refilling a 12.5kg cylinder. The average price rose from ₦11,510.16 in December 2023 to ₦17,274.16 in December 2024, representing a 50.08 per cent increase over the year. On a month-on-month basis, the price saw a marginal decrease of 0.05 per cent from ₦17,283.58 in November 2024.

A recent survey conducted by newsmen on January 25, 2025 in Benin City revealed that, during the festive season, gas vendors at Oba Market and New Benin Market sold a 12kg cylinder of cooking gas for ₦17,500 and ₦18,000, respectively.

The price of a 5kg cylinder was also recorded at ₦7,500 at Oba Market and ₦7,000 at New Benin Market.

The rising cost of cooking gas remains a concern for many households in Nigeria. The Federal Government, in a move to address the rising costs, banned the export of cooking gas on November 1, 2024 to boost local availability and stabilise prices but the impact of this policy remains uncertain.

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