The escalating cost of LPG and Premium Motor Spirit (PMS) has put a heavy burden on Nigerian households, prompting some to explore cheaper alternatives like charcoal and firewood.
According to the National Bureau of statistics (NBS), the cost of refilling a 12kg cooking gas cylinder increased by 76.41% from N9,247.40 in September 2023, to N16,313.43 in September 2024. The commodity also rose by 4.89% on a month-on-month basis, from N15,552.56 in August 2024.
The constant price increment has been linked to the depreciation of the Naira and Nigeria’s heavy reliance on gas imports.
According to the President, Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) Olatunbosun Oladapo, the current foreign exchange challenges have made it increasingly difficult for importers to access the necessary funds, leading to higher costs for consumers.
This increment was also felt in the 5kg cylinder category with products climbing to N6,699.63 in September 2024. According to the NBS data, the average retail price for refilling a 5kg Cylinder of LPG increased by 4.19% on a month-on-month basis from N6,430.02 recorded in August 2024 and on a year to year basis, the product increased by 59.90% from N4,189.96 in September 2023.
The NBS September LPG price watch shows the top 10 states with the highest cost of refiling a 12kg cylinder
| Rank | State | Price (N) |
|---|---|---|
|
1 |
Rivers |
17,992.86 |
|
2 |
Gombe |
17.742.86 |
|
3 |
Zamfara |
17,475.00 |
|
4 |
Anambra |
17,291.67 |
|
5 |
Edo |
17,271.88 |
|
6 |
Osun |
17,159.09 |
|
7 |
Enugu |
17,053.57 |
|
8 |
Imo |
17,011.76 |
|
9 |
Abuja |
17,001.25 |
|
10 |
Cross River |
16,965.63 |
The three states that recorded the cheapest cost of refilling a 12kg cylinder was Adamawa with N13,983.33, followed by Nasarawa and Bauchi with N14,938.50 and N15,000.00 respectively.
A regional analysis showed that the South-East zone recorded the highest average retail price for refilling a 12.5kg cylinder of cooking gas with N16,957.29, followed by the South-West with N16,665.45 while the North-East recorded the lowest price with N15,770.75.
