Dealers Hike Cooking Gas Prices, More Headaches for Households
- Residents in Lagos, Ogun and Oyo states reported sharp increases in cooking gas prices at retail outlets across multiple communities
- Depot prices climbed by 31.8%, pushing retail rates in some Ogun State communities as high as N1,900 per kg
- Gas marketers blamed fragmented supply arrangements for persistent price instability affecting households and businesses
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Residents across Lagos, Ogun and Oyo states are grappling with sharply higher cooking gas bills as the retail price of Liquefied Petroleum Gas (LPG) climbed significantly within a month.
Findings showed that retail prices at several outlets jumped from around N1,200 to N1,800 per kilogramme. In communities in Ogun State, including Magboro, Mowe and Ibafo, some residents reported paying as much as N1,900 per kg.
Source: Getty Images
The increases followed a 31.8% rise in depot prices, which moved from N1,100 to N1,450 per kg, raising costs across the supply chain. Nigerian Tribune reports.
Oyo residents consider charcoal as an alternative
In Oyo State, cooking gas prices vary across the state's 33 local government areas.
The direct market price stands at N1,450 per kg, while neighbourhood retailers charge between N1,500 and N1,650, depending on location and supply costs.
The financial strain has pushed some households in the state to consider returning to charcoal as a cheaper cooking fuel.
Affected residents have appealed to the Federal Government to intervene, warning that further increases would deepen the financial pressure on Nigerian households.
Marketers point to supply problems
Bassey Essien, the Executive Secretary of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), said the core problem was insufficient attention to product availability across the country.
Essien said:
"Until availability is taken seriously and implemented, this fragmented supply and sporadic responses to marketers and consumers' plight will be the order of the day."
He argued that without deliberate policy action to guarantee consistent supply, price fluctuations would continue to affect retailers and consumers.
Source: UGC
Cooking gas depot prices
A breakdown of current prices at major liquefied petroleum gas (LPG) depots shows that most operators are charging N1,445 per kilogram.
Petroluemprice.ng reports that Dangote stands apart, selling at N1,150 per kilogram, which is N295 below the rate offered by its competitors.
The depot prices, as reported by Petroleumprice.ng:
- 11 PLC: N1,400 per kg
- Dangote: N1,150 per kg
- Navgas: N1,410 kg
- Nipco: N1,400 per kg
- Rain Oil: N1,400 per kg
- Techno Oil: N1,445 per kg
- Ardova: N1,390.00 per kg
FG launches new LPG scheme
Earlier, Legit.ng reported that the federal government launched a new cooking gas programme designed to widen access to liquefied petroleum gas (LPG) and drive down costs for ordinary Nigerians, with Bayelsa State kicking off the rollout.
The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, officially unveiled the National Grassroots LPG Programme in Yenagoa as part of the broader Decade of Gas Initiative.
The scheme targets the transition of five million Nigerian households away from firewood and charcoal to LPG by 2030.
Source: Legit.ng
