Depot Owners Increase Cooking Gas Prices by N100/Kg
- Depot owners across Nigeria have raised cooking gas prices by an average of N100 per kilogram
- The surge follows geopolitical tensions in the Middle East, including US–Israel airstrikes on Iran
- The conflict has pushed global crude oil prices higher and set to affect households and small businesses
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
Depot owners across Nigeria have increased the price of liquefied petroleum gas (LPG), commonly known as cooking gas, by an average of N100 per kilogram.
The increase is the result of a geopolitical turmoil in the Middle East which has affected global energy markets and impacts Nigerian households.
Source: Getty Images
New cooking gas
Petroleumprice.ng reports that NIPCO Plc, one of Nigeria’s largest LPG distributors, is now selling at N950 per kilogram, Navgas Limited at N900, and Techno Oil Limited at N885.
The new prices represent a sharp rise from the previous market average of about N800 per kilogram.
The adjustments follow coordinated US–Israel airstrikes on Iran, which disrupted crude oil flows from the Persian Gulf to the global market.
Nigeria’s benchmark Bonny Light crude surged to $80 per barrel from $70, its highest since July 2025, according to BusinessDay data.
Global benchmarks also posted strong gains: Brent crude climbed to $79.08 per barrel from $72.87, Murban crude rose to $81.05 from $74.24, and West Texas Intermediate advanced to $72.24 from $62 per barrel.
The spike in international oil prices has quickly filtered into Nigeria’s downstream sector, where LPG, largely imported, is highly sensitive to global pricing and foreign exchange fluctuations.
Source: Getty Images
A retailer at a Lagos Island filling station who asked not to be named said:
“Every time there is a crisis in the Middle East, we feel it here in Lagos. We have no choice but to adjust our prices. The product coming in is more expensive.”
The latest increase adds further pressure on households and small businesses that rely heavily on LPG for domestic and commercial energy needs.
18 days of National LPG Sufficiency
In its January report, the NMDPRA disclosed that Nigeria currently has about 18 days of national LPG sufficiency, reflecting improved stock levels nationwide.
According to the regulator, the average daily supply of LPG stands at 5,110 metric tonnes (mt/day), while average daily consumption is estimated at 5,050 mt/day in January 2026, suggesting a near balance between supply and demand.
Also, it noted that retail prices in January 2026 ranged between N950 and N1,550 per kg, depending on location.
NBS data on cooking gas
Legit.ng earlier reported that the National Bureau of Statistics has disclosed that Nigerians paid less to refill a 5kg and 12kg cylinder of Liquefied Petroleum Gas in January 2026.
In its latest price watch report, the bureau stated that the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas stood at N5,404.19 in January 2026.
This represents a 0.82% increase compared with N5,360.43 recorded in December 2025.
Source: Legit.ng
