Price of 12.5kg cooking gas surge by 55% in Nigeria

The cost of refilling a 12.5-kilogram cylinder of cooking gas has surged significantly, rising by 55.22% to N15,929.04 in March from N10,262.56 a year earlier. This data was revealed in the latest March Cooking Gas Price Watch by the National Bureau of Statistics.

Month-on-month, there was a 5.77% increase in the price of cooking gas, reaching N15,929.04 in March 2024 compared to N15,060.38 in February.

Analyzing prices by state, Sokoto had the highest average retail price for refilling a 12.5kg cylinder of cooking gas at N17,833.33, followed by Osun at N17,588.46 and Anambra at N17,417.65. Conversely, Katsina had the lowest average price at N12,400.00, followed by Kebbi and Bauchi at N13,137.50 and N14,484.25 respectively.

Regionally, the South-South recorded the highest average retail price for refilling a 12.5kg cylinder of cooking gas at N16,859.85, followed by the South-East at N16,734.87. The North-East recorded the lowest price at N14,943.48.

These increases occur against the backdrop of rising inflation in Nigeria. The NBS plans to release April’s inflation figures next week. Meanwhile, headline and food inflation reached 33.20% and 40.01% respectively in March 2024.