Price Of 5kg Cooking Gas Up By 42.97% – NBS

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BY CHINYERE OBIORA, LAGOS – The economic situation is still biting hard on Nigerians as the average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) among other items increased by 42.97 percent to N6,591.62 in the last one year.

On a month-on-month basis, the price, which stood at N4,620.48 as of March 2023, also went up by 7.10 percent compared to N6,154.50 recorded in February 2024.

According to Forefront News findings, the cooking gas prices on the state level based on recent data released by the National Bureau of Statistics (NBS) showed that Kano had the highest average price at N7,609.00, followed by Ogun with N7,363.64, and Akwa Ibom at N7,162.50.

On the other hand, the lowest prices were recorded in Adamawa where the price was N5,312.50, with Taraba and Zamfara following with a total of N5,375.00 and N5,550.00, respectively.

Further analysis showed that on the zonal level, the South-South recorded the highest average retail price for refilling a 5kg Cylinder of Cooking Gas with N7,003.08, followed by the South-West with N6,723.22 even as the North-East recorded the lowest with N6,221.30.

Also, the average retail price for refilling a 12.5kg Cooking Gas increased month-on-month by 5.77 percent from N15,060.38 in February 2024 to N15,929.04 in March 2024. On a year-on-year basis, this rose by 55.22 percent from N10,262.56 in March 2023.

Similarly, State-level data indicate Sokoto has the highest average retail price for 12.5 kg cooking gas, selling at the rate of N17,833.33, followed by Osun at N17,588.46, and Anambra at N17,417.65. The lowest prices were recorded in Katsina, standing at N12,400.00, Kebbi reported N13,137.50 while Bauchi stood at N14,484.25

Furthermore, analysis by zone showed that the South-South had the highest average retail price for refilling a 12.5kg Cylinder of Cooking Gas at N16,859.85, followed by the South-East at N16,734.87, while the North-East recorded the lowest price with N14,943.48.

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