No more N5k: Nigerians React As Retailers Sell Cooking Gas At New Prices

The price of refilling cooking gas has increased again, adding more burden to many Nigerian households

 

New data shows that the average price of refining 5kg and 12.5kg has increased by 19.75% and 28.33%, respectively

 

Residents of Lagos, Imo, and Anambra paid higher prices to refill their cooking gas compared to residents of other states

 

Ogalablog gathered report from Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

 

The National Bureau of Statistics has revealed that the average price for refiling a 5kg or 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) has increased again. In its latest price watch report, the bureau stated that for a 5kg cylinder, Nigerians paid N6,154.50 to refill in February 2024.

 

This represents a 19.75% increase compared to the N5,139.25 average price recorded in January 2024.

 

While on a year-on-year basis, NBS added that the 5kg refill price was 33.78% from N4,600.57 in February 2023.

 

While for a 12.5kg cylinder of cooking gas, Nigerians paid an average price of N15,060.38 to refill in February 2024.

 

This is a 28.33% increase on a month-on-month basis from N11,735.72 in January 2024. While on a year-on-year basis, this rose by 46.88% from N10,253.39 in February 2023.

 

States with the highest, lowest prices

 

The report further showed the states and regions with the highest and lowest prices average prices to refill 5kg and 12.5kg.

 

Here is a breakdown 5kg Cylinder Highest Prices:

Lagos: N6,820.00

Imo: N6,785.71

Anambra: N6,750.00

 

Lowest Prices:

Yobe: N4,912.50

Kebbi: N5,350.00

Adamawa: N5,385.00

 

Regional Analysis:

South-East: N6,616.57

South-West: N6,513.30

North-Central: N5,723.02 12.5kg

 

Cylinder Highest Prices:

Ogun: N16,375.00

Delta: N16,333.33

Edo: N16,321.43

 

Lowest Prices:

Bauchi: N13,167.50

Katsina: N13,562.50

Yobe: N13,610.00

 

Regional Analysis:

South-East: N15,954.60

South-South: N15,943.40

North-East: N14,035.88

 

Nigerians react to new prices

 

Reacting to the new price, Helen Duru, who lives around the Igando area of Lagos, told Legit.ng that she has been struggling to cook.

 

“Most of the time, I wait for the power supply and quickly cook with my electric stove. Thank God I use a postpaid meter, so it is cheaper.

 

“What the government is doing to citizens is unfair. Why would they sit down and watch citizens suffer this much to buy food items and also to cook?”

 

Also, Mosurat Abiodun called on the government to intervene because it was getting unbearable.

 

“Imagine spending up to N17,000 to refill my 12.5kg cooking gas, something I used to do for just N9,000 some months ago.

“I don’t know why this is happening, but it’s high time the government stepped in. That N17,000 is almost 40% of my monthly salary.”

 

Marketers give reasons for high cooking gas cost

 

Earlier, Legit.ng reported that cooking gas marketers under the Nigerian Association of Liquified Petroleum Gas Marketers (NALPGAM) accused the Liquified Petroleum Gas terminal operators of causing the country’s high cooking gas cost.

 

Oladapo Olatubosun, the association’s president, disclosed this when they met the Senate committee on gas in the company of the group members.

 

He warned that if the federal government does not intervene, the gas price could reach N18 million per metric ton by December. This means a 12.5kg cooking gas cylinder could go for as high as N18,000.

 

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