South-South Records Highest Price For Cooking Gas In October

The National Bureau of Statistics (NBS) has revealed that the South-South geopolitical zone recorded the highest average retail price for a 12.5kg cylinder of liquefied petroleum gas (LPG), commonly known as cooking gas, in October 2024.

In its latest Cooking Gas Price Watch report, the NBS highlighted a sharp year-on-year increase of 58.68% in the average price of the 12.5kg LPG cylinder.

This surge comes amid rising concerns over inflation and its impact on household energy costs.

NBS disclosed, “The average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (cooking gas) increased by 2.58% on a month-on-month basis from ₦16,313.43 in September 2024 to ₦16,734.55 in October 2024.

“On a year on-year basis, this rose by 58.68% from ₦10,545.87 in October 2023.”

On state analysis, the data bureau said Rivers recorded the highest average retail price for the refilling of a 12.5kg cylinder of cooking gas with ₦17,895, followed by Osun (₦17,739.06) and Benue (₦17,731.25).

The bureau stated, “Conversely, the lowest average price was recorded in Katsina with ₦14,725.00, followed by Nassarawa and Adamawa with ₦15,390.55 and ₦15,474.21 respectively.

“Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with ₦17,114.67, followed by the South-East with ₦16,906.01 while the North-Central recorded the lowest price with ₦16,411.19.”

The statistics firm said the average retail price for refilling a 5kg cylinder of cooking gas increased by 3.23 percent monthly from ₦6,699.63 recorded in September to ₦6,915.69 in October.

NBS said on a year-on-year basis, the price increased by 51.58 percent from ₦4,562.51 in October 2023.

NBS added, “On state profile analysis, Borno recorded the highest average price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with ₦7,939.29, followed by Yobe with ₦7,580.00, and Benue with ₦7,578.00.

“On the other hand, Katsina recorded the lowest price with ₦6,270.00, followed by Zamfara and Delta with ₦6,410.71 and ₦6,427.78 respectively.”

In addition, the NBS said the north-east recorded the highest average retail price for refilling a 5kg cylinder of LPG with ₦7,319.03, followed by the south-west with ₦6,961.58 while the north-west recorded the lowest with ₦6,703.95.

On October 22, the federal government directed the Nigerian National Petroleum Company (NNPC) Limited and LPG producers to stop exporting the product by November 1 to address the local price hikes.