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Opinion

Price of cooking gas rises by 38% to N16,250

The price of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas rose by 38 percent on a month-on-month, MoM basis, as the 12.5kg cylinder now sells at N16,250 from N11,735.72 in January 2024, according to findings by Vanguard.

Investigations also showed that the price of 1kg of the gas increased by 37 percent to N1,300 from N950.

Meanwhile, the latest report of Nigeria Bureau of Statistics, NBS, Liquefied Petroleum Price Watch, January 2024, showed that the average retail price for refilling a 5kg cylinder of cooking gas increased Month-on-Month, MoM, by 3.55 percent to N5, 139.25 in January 2024 from N4 952.87 recorded in December 2023.

On a year-on-year, YoY, basis, this increased by 12 percent to N5,139.25 in January 2024 from N4.588.75 in the corresponding period of 2023.

The NBS also stated that Nassarawa State recorded the highest average price for refilling a 5kg Cylinder of cooking gas with N5, 790.00, followed by Jigawa State with N5, 681.82 and Gombe State with N5,660.00.

On the other hand, Kaduna State recorded the lowest price with N4, 150.00, followed by Ogun and Osun States with N4, 751.04 and N4, 763.53 respectively

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