The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged to N1,500 per kilogram.
Managing Director/Chief Executive Officer of NIPCO Plc, Suresh Kumar, however, said the Dangote refinery and other domestic refineries would bring down the price of cooking gas, expressing concerns that over 60 per cent of cooking gas consumed in Nigeria is being imported.
A recent survey by Leadership Newspaper confirmed that prices in Ogun and Lagos States peaked at N1,500 per kilogram, while in Abuja, the cost to refill a standard 12.5kg cylinder has risen by 41.6 percent, reaching as much as N17,000. By comparison, the same refill was priced at N12,000 in July and N11,735 at the start of 2024, illustrating the sharp increase.
In August, Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, vowed to address the surging prices, promising to collaborate with regulators and producers to lower costs. However, the latest market survey shows no relief, as prices have continued to rise.
This gas price surge reflects ongoing trends in the market and may have implications for consumers, many of whom rely on LPG for their daily cooking needs.