The price of cooking gas in Nigeria has experienced significant volatility throughout 2024, with the festive season exacerbating concerns about its affordability and availability for households......Read The Full Article>>.....Read The Full Article>>
Cooking gas, or Liquefied Petroleum Gas (LPG), has faced price fluctuations due to a combination of domestic and global factors, including global energy market trends, exchange rate instability, and challenges in local supply.
Throughout the year, the price of cooking gas in Nigeria has been erratic, with a noticeable uptick in costs especially as the country enters the festive season, a time of year when demand for household commodities traditionally rises.
In January, the price of a 12.5kg cylinder of cooking gas was around ₦8,000. However, as the year unfolded, prices surged, reaching between ₦12,000 and ₦15,000 in many regions by mid-year. This rise was largely driven by the devaluation of the naira, increasing international gas prices, and the country’s reliance on imports to meet local demand, despite Nigeria’s substantial natural gas reserves. Limited domestic production capacity has only intensified the pressure on supply, pushing prices further up.
As December rolled in and the holiday season approached, the price of cooking gas showed little sign of stabilizing. In major cities like Lagos, Abuja, and Port Harcourt, the cost of a 12.5kg cylinder has ranged from ₦16,000 to ₦17,500, with some rural areas facing even higher prices due to logistical challenges in transportation.
The price breakdown for various cylinder sizes is as follows:
These price increases have sparked concerns among Nigerian consumers, especially as many families rely on cooking gas for their daily household needs. The ongoing price instability poses a challenge for many, with no clear resolution in sight as the year draws to a close.
