Cooking gas price inflation hits record high at 83% -NBS
By Felicia Nwosu
Recent statistics released by the National Bureau for Statistics has revealed that the price of cooking gas has increased by 83 percent. According to the Bureau, the price of 5 kg of cooking gas in March 2021 was N2057.71 compared to the N3778.30 for March 2022. The report also indicated discrepancies in price across the various zones of the country.
The price profile analysis across Nigeria showed some of the states with the highest average price for refilling a 5kg cylinder of LPG. Ekiti state recorded N4, 200, followed by Niger state with N4163.33 and Imo state with N4150.00 while states such as Adamawa recorded the lowest average price with N2604.01, followed by Yobe with N2740.00 and N3300.00 for Kano respectively.
According to the analysis of prices across Nigeria, the average retail price for refilling a 5kg cylinder of LPG was highest in the South-East with N3992.56, followed by the South-West with N3900.55 and South-South, N3877.08, while North-East recorded the lowest average retail price of N3419.37.
With the evidence, the average price for refilling a 12.5kg cylinder of LPG increased to N7617.71 in March 2022, from N7447.79 in February 2022, representing a 2.28 percent month-on-month increase. Similarly, on a year-on-year basis, the average retail price for refilling a 12.5kg cooking gas increased by 74.75 percent, from N4359.23 in March 2021
Meanwhile, Nigerian consumers have continued to lament as the economic hardship keeps having its toll on them and their pockets. The resultant heavy drop in their purchasing power, triggered y the hike in prices of goods and services, especially essentials like cooking gas and foods has continued to make life difficult for the average Nigerian.
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