As Nigerians face the challenge of rising petrol costs, the price of Liquefied Petroleum Gas (LPG), also known as cooking gas, has seen a significant increase, reaching ₦1,500 per kilogram at various retail locations in Ogun and Lagos States.
Suresh Kumar, the Managing Director and CEO of NIPCO Plc, expressed hope that the launch of operations at the Dangote refinery, along with other local refineries, could help reduce the prices of LPG in the market.
He pointed out that over 60 percent of the LPG consumed in Nigeria is imported, raising concerns about the country’s heavy reliance on international supply chains.
Recent market surveys confirm that cooking gas now costs ₦1,500 per kilogram, affecting many households that depend on it for their daily cooking needs.
In Abuja, the price to refill a 12.5kg cylinder has surged by 41.6 percent to ₦17,000, compared to ₦12,000 three months earlier in July and ₦11,735 in January 2024.
These price increases highlight a concerning trend, suggesting that consumers are under increasing financial pressure.
A survey by *Punch* revealed that the price for a kilogram of LPG in the Lokogoma area of Abuja has risen to ₦1,400, while in Kubwa, prices range between ₦16,200 and ₦16,500.
Meanwhile, in some areas on the outskirts of Abuja, such as Bwari, Kurudu, and Jikwoyi, LPG is still being sold for about ₦1,300, reflecting differences in pricing based on location. Major suppliers continue to offer the product at rates between ₦1,300 and ₦1,400.
Despite earlier promises by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, to address the increasing costs of cooking gas, the latest market findings show that prices have not only stayed high but have also continued to climb.
Ekpo had previously expressed intentions to work with regulatory bodies and gas producers to find effective solutions for lowering costs. However, the ongoing price hikes raise concerns about the effectiveness of these efforts.
