This surge in prices is accompanied by a 37% increase in the price of 1kg of gas, which rose to ₦1,300 from ₦950 during the same period, according to the latest report from the Nigeria Bureau of Statistics (NBS) Liquefied Petroleum Price Watch for January 2024....CONTINUE READING
According to the report, there was a 3.55% month-on-month increase in the average retail price for refilling a 5kg cylinder of cooking gas, reaching ₦5,139.25 compared to ₦4,952.87 in December 2023.
On a year-on-year basis, the 5kg cylinder price saw a significant 12% increase, rising to ₦5,139.25 in January 2024 from ₦4,588.75 in the corresponding period of 2023.
Nassarawa State recorded the highest average price for refilling a 5kg cooking gas cylinder at ₦5,790.00, followed closely by Jigawa State at ₦5,681.82 and Gombe State at ₦5,660.00.
Conversely, Kaduna State had the lowest price at ₦4,150.00, followed by Ogun and Osun States with ₦4,751.04 and ₦4,763.53, respectively.
Experts have expressed concerns that these soaring gas prices will exacerbate the financial burden on the already stretched citizenry, further intensifying the challenges posed by inflation across Nigeria.
