Dangote’s Gas Price Slash Shakes Market: Importers Rush Out New Rates Nationwide

• Following the slash in cooking gas prices announced by Dangote Refinery, major importers have released new rates
• Dangote Refinery slashed cooking gas prices, bringing relief to millions of Nigerians after scarcity hit major cities nationwide
• The new rates announced by importers remain slightly high, but analysts say prices could drop at any moment

Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy.

Major dealers and depot owners have released new prices for liquified natural gas, also known as cooking gas, nationwide.

The new development came barely 24 hours after the 650,000 Dangote Refinery slashed its LPG prices to N760 per kilogram.

Major dealers release new prices

Nigerians have been hit with cooking gas scarcity and high prices after the PENGASSAN strike disrupted production at the mega Dangote Refinery.

Findings showed that prices rose as high as 80%, with most dealers selling a kilogram of cooking gas for N3,600, up from N1,000.

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The Nigerian National Petroleum Company Limited (NNPC) blamed the scarcity and hike on PENGASSAN’s industrial action and hoarding by major marketers, leading to profiteering.

NNPC’s boss points accusing fingers

The Group Chief Executive Officer (GCEO) of NNPC, Bayo Ojulari, disclosed that the commodity’s price will stabilise as oil unions have sheathed their swords.

Speaking to State House correspondents after visiting President Bola Tinubu at the Presidential Villa, Abuja, Ojulari said the surge was not a result of new market fundamentals but a temporary distortion caused by an industrial strike.

“The increase you saw was relatively artificial because for the period of the strike, movements and loading were delayed by about two to three days,” Ojulari explained.

Cooking gas prices remain elevated

Meanwhile, data from PetroleumPriceNG shows that importers have released new rates.

According to the data, LPG prices remain slightly elevated despite the reprieve announced by Dangote Refinery.

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Depot owners sold the product at N870 per kilogramme relative to Dangote’s N760, as of Wednesday, October 8, 2025.

LPG price outlook remains fluid

Experts have warned that future industrial action against Dangote Refinery could have a devastating effect on the country’s energy market.

The refinery has emerged as a major lifeline for Nigeria’s quest for energy security and reduction in over-reliance on petroleum product imports.

For now, the LPG market pricing dynamics remain fluid, and prices could change at any moment, experts say.

Cooking Gas Hits ₦17,500/ 12.5kg

Legit.ng earlier reported that the cost of refilling a 12.5kg cylinder of Liquefied Petroleum Gas (LPG), commonly referred to as cooking gas, has skyrocketed across Nigeria.

Prices surged by 34.6% in just one week, rising from ₦12,750 to ₦17,500, as supply bottlenecks triggered by industrial action and delayed distribution disrupted the market.

Checks across major cities revealed that the retail price of 1kg of LPG now ranges between ₦1,350 and ₦1,500, depending on location, placing additional financial pressure on households already grappling with high food and transport costs

Source: Legit.ng