The National Bureau of Statistics (NBS) reports that the average retail cost to refill a 5 kilogramme cylinder of cooking gas, or liquefied petroleum gas, increased by 42.97% from N4,610.48 in March 2023 to N6,591.62 in March 2024.
In contrast, the price increased by 7.10% on a monthly basis from N6,154.50 in February 2024.
According to a state-level research, the highest average price was N7,609.00 in Kano, followed by N7,363.64 in Ogun and N7,162.50 in Akwa Ibom.
In comparison, Taraba and Zamfara had the lowest prices at N5,375.00 and N5,550.00, respectively, while Adamawa had the lowest price at N5,312.50.
In terms of regional average price, the South-South sold for the highest amount, N7,003.08, followed by the South-West at N6,723.22, and the North-East at N6,221.30.
Furthermore, from N15,060.38 in February 2024 to N15,929.04 in March 2024, the average cost to refill a 12.5 kg LPG cylinder grew by 5.77% month over month and by 55.22% year over year from N10,262.56 in March 2023.
According to state-level data, the highest average price is N17,833.33 in Sokoto, N17,588.46 in Osun, and N17,417.65 in Anambra. Katsina (N12,400.00), Kebbi (N13,137.50), and Bauchi (N14,484.25) had the lowest costs.
In terms of average pricing, the South-South led the way once more with N16,859.85, followed closely by the South-East with N16,734.87, and the North-East with N14,943.48.
In 2023, TNC did an analysis of cooking gas costs and found that poor investment in natural gas exploration and decreased production of related gas were the main causes of the price increase.
According to a subject-matter expert, the amount of gas delivered by the LNLG under the Domestic Liquefied Petroleum Gas (DLPG) programme has decreased during the last several months.
Another analyst pointed out that the Federal Government’s failure to monitor the Butanization policy of the 1980s contributed to the current price increase.
