Price Of 5kg Cooking Gas Soars To N6,154.50 In February – NBS

Price Of 5kg Cooking Gas Soars To N6,154.50 In February – NBS

The National Bureau of Statistics (NBS) has reported a surge in the cost of cooking gas in Nigeria, with the average price for a 5kg cylinder reaching N6,154.50 in February 2024, up from N5,139.25 in January 2023…..READ ALSO Fresh Update Emerges On Price Of Refilling Cooking Gas In Nigeria

This increase, representing a 19.75 percent month-on-month rise and a 33.78 percent surge from February 2023, underscores the mounting pressure on household budgets across the nation.

According to the NBS’s “Cooking Gas Price Watch” for February 2024, Lagos State recorded the highest average price for a 5kg cylinder at N6,820.00, followed closely by Imo and Anambra states. Conversely, Yobe State reported the lowest average price, with Kebbi and Adamawa also posting lower figures.

Regionally, the South-East had the steepest average price at N6,616.57 for a 5kg cylinder, with the South-West trailing just behind. The North-Central zone recorded the lowest average price at N5,723.02.

The report also highlighted a significant increase in the cost of refilling a 12.5kg cooking gas cylinder, which surged 28.33 percent month-on-month to N15,060.3 in February 2024, marking a 46.88 percent rise on a year-on-year basis.

Ogun State topped the chart for the 12.5kg category, reporting the highest prices, while Bauchi recorded the lowest.

This price hike in cooking gas is becoming a growing concern for many Nigerian households, directly impacting their daily living expenses.