By Ayomide Otitoju
The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (cooking gas) soared by 69.15% from ₦9,194 in August 2023 to ₦15,552 in August 2024, according to the latest data from the National Bureau of Statistics (NBS).
Although no specific reason was provided by the NBS for the sharp increase, Nigeria has been grappling with rising inflation, which peaked at 34% in mid-2024 before slightly easing to 32.15% in August from 33.40% in July.
The NBS report, Liquefied Petroleum Gas (Cooking Gas) Price Watch August 2024, also revealed that the average price for refilling a 12.5kg cylinder rose by 9.05% month-on-month, up from ₦14,261 in July to ₦15,552 in August.
State-by-state analysis showed that Rivers State recorded the highest price for refilling a 12.5kg cylinder at ₦17,086, followed closely by Cross River (₦17,050) and Abia (₦17,012). On a year-on-year basis, this marks a significant 56.25% rise from ₦4,115 recorded in August 2023.
For smaller cylinders, Benue and Sokoto registered the highest average prices for refilling a 5kg cylinder at ₦7,000, with Rivers (₦6,954) and Borno (₦6,914) not far behind. Taraba, meanwhile, had the lowest price at ₦5,600, followed by Abuja and Kogi at ₦5,825 and ₦5,857 respectively.
Regional analysis showed that the South-East led with the highest average price for refilling a 5kg cylinder at ₦6,585, followed by the South-South at ₦6,451, while the North-Central recorded the lowest price at ₦6,344.
For 12.5kg cylinders, the South-South zone topped the chart with an average price of ₦16,524, followed by the South-East at ₦16,496, while the North-Central zone recorded the lowest average price at ₦14,767. Among the states with the lowest prices were Bauchi (₦13,425), Nassarawa (₦13,641), and Adamawa (₦13,725).
