Just In: Cooking Gas Prices Increased in Nigeria by Over 55% In One Year, NBS Reports

Confidence UbaniAugust 20, 20241 Mins read1k

The National Bureau of Statistics (NBS) has reported a steep rise in cooking gas prices across Nigeria. The cost of refilling a 12.5kg cylinder reportedly increased by 55.66 per cent over the past year. According to the NBS’s latest report released on August 20, 2024, the average price for refilling this cylinder type jumped from N9,162.11 in July 2023 to N14,261.57 in July 2024.

The report also shows that prices have slightly eased on a month-on-month basis. In June 2024, the average price was N15,736.27, which dropped by 9.37 per cent to N14,261.57 in July 2024.

The NBS’s state-by-state analysis revealed that Gombe recorded the highest average price for refilling a 12.5kg cylinder at N15,872.22, followed closely by Yobe and Taraba, where prices were N15,823.32 and N15,625.00, respectively. On the other hand, Bauchi had the lowest price at N13,314.47, with Enugu and Nassarawa recording lower prices of N13,411.39 and N13,413.81, respectively.

For the smaller 5kg cylinders, the NBS report showed a monthly price decrease, with the cost dropping by 14.23 per cent from N6,966.03 in June 2024 to N5,974.55 in July 2024. However, the year-on-year data tells a different story, with prices rising by 46.69 per cent from N4,072.87 in July 2023.

In this category, Borno had the highest average price for refilling a 5kg cylinder at N7,088.59, followed by Yobe at N6,935.50 and Sokoto at N6,750.00. Delta recorded the lowest price at N5,392.86, with Zamfara and Kogi close behind at N5,431.25 and N5,560.63, respectively.

Regionally, the North-East recorded the highest average prices for the 5kg and 12.5kg cylinders, while the South-South had the lowest prices.

Read the entire report here.

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