A recent report from the Nigerian Bureau of Statistics has revealed a 12% increase in the price of Liquefied Petroleum Gas, commonly known as cooking gas, within a year. This announcement follows a broader trend of escalating living costs across the country, resulting in a 29.9% inflation rate in January.

The NBS report, titled ‘Liquefied Petroleum Gas (Cooking Gas) Price Watch (January 2024)’, outlined the significant surge in the cost of cooking gas.

The average retail price for refilling a 5kg cooking gas cylinder rose by 3.5% on a month-on-month basis, reaching N5,139 in January 2024, compared to N4,963 recorded in December 2023. The average price for a 5kg cooking gas cylinder in January 2023 was N4,589.

The state-wise analysis revealed notable variations in prices. Nassarawa recorded the highest average price for refilling a 5kg cylinder at N5,790, followed by Jigawa with N5,682, and Gombe with N5,660. In contrast, Kaduna reported the lowest price at N4,150, followed by Ogun and Osun with N4,751 and N4,763, respectively.

A breakdown by geographical zones indicated that the North-East had the highest average retail price for refilling a 5kg cylinder at N5,296, followed by the North-Central at N5,240. The South-West recorded the lowest regional average at N4,805.

Moving to the larger 12.5kg cylinder, the report noted a 1.96% month-on-month increase, with the average retail price rising from N11,510 in December 2023 to N11,736 in January 2024. On a year-on-year basis, this represented a 14.2% increase from N10,277 in January 2023.

State profile analysis for the 12.5kg cylinder revealed Cross River with the highest average retail price at N13,040, followed by Jigawa with N12,875, and Zamfara with N12,725. Conversely, Kaduna reported the lowest average price at N9,699, followed by Kwara and Niger with N10,000 and N10,400, respectively.

Regional analysis for the 12.5kg cylinder showed the South-South recording the highest average retail price at N12,602, followed by the North-West at N12,225. The South-West had the lowest regional average at N11,189.