The cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has increased by 38% on a month-on-month basis, reaching N16,250 for a 12.5kg cylinder as compared to N11,735.72 in January 2024. Along with this, the price of 1kg of gas rose by 37% to N1,300 during the same period.
According to the latest report by the Nigeria Bureau of Statistics (NBS) Liquefied Petroleum Price Watch for January 2024, the average retail price for refilling a 5kg cylinder of cooking gas has gone up by 3.55% on a month-on-month basis, reaching N5,139.25 compared to N4,952.87 in December 2023. On a year-on-year basis, the 5kg cylinder price has seen a 12% increase, rising to N5,139.25 in January 2024 from N4,588.75 in the corresponding period of 2023.
Nassarawa State recorded the highest average price for refilling a 5kg cooking gas cylinder at N5,790.00, followed by Jigawa State at N5,681.82 and Gombe State at N5,660.00. Conversely, Kaduna State had the lowest price at N4,150.00, followed by Ogun and Osun States with N4,751.04 and N4,763.53, respectively.
Experts say that this latest information will put additional pressure on the finances of an already stretched citizenry as Nigeria continues to battle inflation.