Nigeria Faces Steep Increase in LPG Prices Across States
Sharp Rise in Cooking Gas Prices
The price of cooking gas in Nigeria has soared, with the cost of refilling a 12.5kg cylinder of Liquefied Petroleum Gas (LPG) increasing by a staggering 69.15% from N9,194.41 in August 2023 to N15,552.56 in August 2024. According to the National Bureau of Statistics (NBS), this surge is seen not only on a year-on-year basis but also on a month-on-month basis, with prices rising 9.05% from N14,261.57 in July 2024.
Similarly, the price of refilling a 5kg cylinder also shot up, with a year-on-year increase of 56.25%, climbing from N4,115.32 to N6,430.02 in the same period. This price also increased 7.62% month-on-month from N5,974.55 in July 2024.
What’s Behind the Rising Prices?
The primary cause for the sharp rise in cooking gas prices can be attributed to inflationary pressures, supply chain challenges, and higher importation costs of Liquefied Petroleum Gas (LPG). Nigeria relies heavily on imported LPG, and global price fluctuations, exchange rate instability, and inflation have contributed to the skyrocketing costs. Additionally, rising operational and transportation costs have pushed up the final price for consumers.
Furthermore, government policies on LPG subsidies, high tariffs, and the overall economic situation have aggravated the cost burden for many Nigerian households.
State-by-State Breakdown
The NBS report highlighted variations in LPG prices across Nigerian states. For the 5kg cylinder, Benue and Sokoto recorded the highest prices at N7,000.00, followed by Rivers with N6,954.55, while Taraba had the lowest price at N5,600.67. On a zonal level, the South-East had the highest average price for the 5kg cylinder at N6,585.18, while the North-Central recorded the lowest at N6,344.29.
As for the 12.5kg cylinder, Rivers led with the highest price at N17,086.36, followed by Cross River with N17,050.00 and Abia with N17,012.52. The lowest prices were observed in Bauchi (N13,425.00), Nassarawa (N13,640.94), and Adamawa (N13,725.00).
Economic Impact on Nigerians
The rise in cooking gas prices has exacerbated the financial strain on many Nigerian households, with many struggling to afford basic energy needs. For a country that relies heavily on LPG for cooking, this increase could lead to a shift towards alternative, less environmentally friendly fuels, further deepening the energy crisis.
The South-East and South-South regions, where prices are highest, are particularly feeling the pinch, and the situation is likely to stoke inflation and hunger as households struggle to keep up with the rising costs.
Reactions to Cooking Gas Price Hike
- @AdaKitchenQueen: “Cooking gas at N17,000 in Rivers? We’re in serious trouble! #GasPriceHike”
- @EmekaInflationWatch: “This is not sustainable. How are families expected to survive with these gas prices? #NigeriaLPG”
- @TundeEconomicEye: “69% increase in cooking gas in a year? These inflation figures are crazy! #NigerianEconomy”
- @ChiomaBudgetLife: “Cooking gas was expensive enough last year. Now we have to pay double? Madness! #GasPriceCrisis”
- @KemiGreenEnergy: “With LPG prices this high, people might start cutting trees again for firewood. Environmental disaster incoming! #EnergyCrisis”
- @IfeanyiNaijaNews: “How do we go from N9,000 to N15,000 for gas in just one year? We need urgent intervention. #NigeriaInflation”
- @SeyiFamilyBudget: “My monthly gas budget just exploded. Time to find cheaper alternatives, but what’s even left? #SurvivingNigeria”
- @BolaLagosMum: “Cooking gas used to be affordable, now it’s a luxury. What happened? #CostOfLivingNigeria”
- @KunleEconomicReality: “Benue and Sokoto paying N7,000 for 5kg of gas? That’s insane. Something has to give! #LPGCrisis”
- @ZainabPriceWatch: “The price hikes are hitting the North-Central hard, but at least we’re still paying less than Rivers and Cross River. #GasPriceNigeria”
- @OluInflationFighter: “Gas prices keep rising while salaries stay the same. How are people supposed to cope? #NigerianStruggles”
With such a steep rise in LPG prices, many Nigerians are calling for government intervention to mitigate the economic impact. If these trends continue, alternative fuels and solutions may become necessary to ease the burden on households.
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
