"Nigerians can no longer afford it": Cost of Cooking Gas Increases by 9% to N745 Per Kilogram

"Nigerians can no longer afford it": Cost of Cooking Gas Increases by 9% to N745 Per Kilogram

  • The cost of cooking gas has increased by 9% from N680 per kilogram to N745
  • This follows earlier speculation that the price of Liquefied Petroleum was set to increase
  • The development is expected to further worsen the hardship faced by Nigerians

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The cost of cooking gas jumped by 9% to N745 per kilogram, exacerbating the hardship already felt by Nigerians.

Olatunbosun Oladapo, the president of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGM), had announced that starting in the middle of August 2023, Nigerians would have to pay extra for cooking gas.

Cooking Gas
President of NALPGM said everyone is impacted by the cooking gas increase including consumers, middlemen, and merchant. Photo Credit: Pulse Nigeria, Jumia
Source: UGC

Legit.ng earlier reported that the price of Liquefied Petroleum Gas (cooking gas) was set to increase this week, a development expected to put severe pressure on the finances of Nigerian households.

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This followed a drop in cooking gas prices which triggered reactions from Nigerians on social media.

Dollar scarcity, Naira float, and others fuelling increase in prices of gas

The Sun quoted Oladapo as saying the development was due to several factors such as increase in the price of crude oil, petrol cylinders, high taxes, greater shipping costs, dollar scarcity, naira float, and higher distribution costs.

He claims that despite rising ship prices and heavy taxes, consumer spending has not increased because their ability to buy has diminished.

He said:

Nigerian consumers are passing through very difficult times because they can no longer afford gas.

Oladapo stated that local taxes are worsening the problem and advised the government to provide palliatives and other measures to alleviate the plights of the people.

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The new prices are: 50kg N37,000; 25kg N18,500; 20kg, N14,800; 15kg, N11,100; 12.5kg, N9,250; 10kg, N7,400; 6kg, N4,450; 5kg, N3,700 and 3kg for N2,250

Before the hike, the product was sold at 50kg, N34,000; 25kg N17,000; 20kg, N13,600; 15kg, N10,300; 12.5kg, N8,500; 10kg, N6,800; 6kg, N4,080; 5kg, N3,400 and 3kg for N2,040.

New NBS report reveals Nigerian states with cheapest, highest prices of cooking gas

Legit.ng had reported that the National Bureau of Statistics said the price for refiling a 5kg cooking gas cylinder fell by 6.7% monthly to N4,068 in June 2023 from N4,361 in May 2023.

On a year-on-year basis, the price of cooking gas plummeted by 3.56% from N4.218 in June last year.

Kwara State has the highest average price for refiling a 5kg cylinder at N4,750, followed by Niger with N4,691 and Zamfara with N4,683.

Source: Legit.ng

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