The National Bureau of Statistics (NBS) has reported a significant increase in the average price of cooking gas in Nigeria.
According to the Bureau's "Cooking Gas Price Watch" for May 2024, the average price of 5kg cooking gas rose from ₦6,521.58 in April 2024 to ₦7,418.45 in May 2024, marking a 13.75% month-on-month increase.
On a year-on-year basis, the price of 5kg cooking gas surged by 70.12% from ₦4,360.69 in May 2023 to ₦7,418.45 in May 2024.
In terms of regional disparities, Benue recorded the highest average price of 5kg cooking gas at ₦8,012.03, followed by Enugu and Ondo. Yobe had the lowest price at ₦5,842.31, with Jigawa and Katsina close behind.
The South-East recorded the highest average retail price of 5kg cooking gas at ₦7,680.87, while the North-East had the lowest at ₦7,071.84.
For the 12.5kg cooking gas, the average retail price saw a slight decline of 0.07% on a month-on-month basis from ₦15,637.74 in April 2024 to ₦15,627.40 in May 2024.
However, the year-on-year increase was substantial, with the average retail price for 12.5kg cooking gas rising by 63.85% from ₦9,537.89 in May 2023 to ₦15,627.40 in May 2024.
State-wise, Zamfara recorded the highest average retail price for 12.5kg cooking gas at ₦18,369.33, followed by Bayelsa and Abia. Bauchi had the lowest average price at ₦13,076.43, with Ebonyi and Taraba also reporting relatively lower prices.
The South-South recorded the highest average retail price of 12.5kg cooking gas at ₦16,310.02, while the North-East had the lowest at ₦15,010.62.
The continuous rise in cooking gas prices is likely to have a significant impact on households and businesses in Nigeria, particularly those heavily reliant on gas for cooking and other domestic purposes.
The government and relevant stakeholders may need to address this issue to ensure affordability and accessibility of cooking gas for the general public.
