Fresh Update Emerges On Price Of Refilling Cooking Gas In Nigeria

Fresh Update Emerges On Price Of Refilling Cooking Gas In Nigeria

In a recent report released by the National Bureau of Statistics (NBS), concerning the price of refilling cooking gas in Nigeria, it has been disclosed that the average cost for refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG) has witnessed a notable increase.

Key Points:

• Rising Costs: The report indicates a 3.55% surge in the average retail price of refilling a 5kg cylinder of cooking gas from December 2023 to January 2024, reaching a peak of N5,139.25.
• Year-on-Year Increase: Compared to January 2023, the price has escalated by 12.00%, indicating the growing financial burden on consumers.
• Regional Disparities: Nasarawa State emerged with the highest average price for gas refills at N5,790.00, while Kaduna recorded the lowest at N4,150.00, underscoring regional variations in pricing.
• Zone-Wise Analysis: The Northeast zone recorded the highest average retail price for gas refills at N5,296.32, while the South-West recorded the lowest at N4,805.05, reflecting diverse economic landscapes.
• 12.5kg Cylinder Price Surge: Similarly, the mean retail cost for refilling a 12.5kg gas cylinder experienced a 1.96% surge on a monthly basis, reaching N11,735.72 in January 2024, marking a substantial 14.19% increase from January 2023.
• State Profiles: Cross River recorded the highest average retail price for 12.5kg gas cylinder refills at N13,040.00, while Kaduna recorded the lowest at N9,699.50, showcasing significant disparities across states.
• Zone-wise Overview: The South-South recorded the highest average retail price for 12.5kg gas cylinder refills at N12,602.47, whereas the South-West recorded the lowest at N11,189.02, highlighting regional variations in pricing dynamics.

The latest NBS report underscores the escalating financial burden on consumers as cooking gas refill prices continue to soar across the country, necessitating proactive measures to mitigate the impact on household budgets and ensure affordability for all.