The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has seen a notable increase, reflecting broader inflationary trends in Nigeria’s economy. According to the National Bureau of Statistics (NBS), the average price of cooking gas rose by 3.32% month-on-month from N6,699.63 in September 2024 to N6,915.69 in October 2024. On a year-on-year basis, the price surged by 51.58%, up from N4,562.51 in October 2023.
Regional Price Variations
The price of cooking gas varies significantly across Nigeria, with the Northeast region experiencing the highest costs. In October 2024, the average price of a 5kg cylinder in the Northeast was N7,319.03, which was above the national average. In contrast, the Northwest region had the lowest average price at N6,703.95.
State-by-State Breakdown for 5kg Cylinder
- Borno recorded the highest price for refilling a 5kg cylinder, at N7,939.29.
- Katsina had the lowest price, at N6,270.00.
Price Changes for 12.5kg Cylinder
The price of a 12.5kg cylinder of LPG also rose by 2.58% month-on-month, from N16,313.43 in September to N16,734.55 in October 2024. This was a 58.68% increase compared to the price in October 2023, which was N10,545.87.
State-by-State Breakdown for 12.5kg Cylinder
- Rivers recorded the highest price for refilling a 12.5kg cylinder at N17,895.00.
- Katsina recorded the lowest price at N14,725.00.
Regional Trends
- The South-South region saw the highest price for refilling a 12.5kg cylinder at N17,114.67.
- The North-Central region had the lowest average price at N16,411.19.
Implications and Impact
The increase in cooking gas prices adds to the growing economic burden on Nigerian households, already grappling with rising costs of food, transport, and other essentials. The sustained increase in LPG prices, especially for smaller cylinders, could push households to revert to less clean and more polluting energy sources, such as firewood or coal. This shift could undermine ongoing efforts to reduce reliance on these harmful cooking methods and transition to cleaner, more sustainable energy sources.
In summary, the sharp rise in cooking gas prices underscores the wider economic challenges in Nigeria, including inflation and regional disparities in fuel prices. The increases also highlight the importance of addressing energy affordability as part of broader strategies to improve the quality of life for Nigerian households.
