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Price Of Cooking Gas Per Kg In Nigeria This Week

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4 weeks ago

Jan 31, 2025.

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Price Of Cooking Gas Per Kg In Nigeria This Week

Price Of Cooking Gas Per Kg In Nigeria This Week
Factors include crude oil prices, exchange rate, and demand.
Government pushes CNG as an alternative to reduce costs.

EDITOR’S PICKS

EKO HOT BLOG reports that as of January 31, 2025, the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged across Nigeria, reflecting a sharp increase over the past year.

Current Retail Prices

The average price of LPG now stands at approximately ₦1,300 per kilogram, with a standard 12.5kg cylinder refilling for around ₦17,000—a 41.6% increase from ₦12,000 in July 2024.

Price Breakdown by Cylinder Size:

3kg Cylinder: ₦3,900
5kg Cylinder: ₦6,500
6kg Cylinder: ₦7,800
10kg Cylinder: ₦13,000
12.5kg Cylinder: ₦16,250

Why Prices Are Rising

Several factors have contributed to the continuous hike in LPG prices:

Global Crude Oil Prices: Nigeria relies heavily on imported LPG, making domestic prices vulnerable to fluctuations in the international oil market.
Exchange Rate Instability: The depreciation of the Naira against major currencies has driven up import costs.
Seasonal Demand: Prices typically rise during festive periods due to increased consumption, especially in urban areas.

Regional Price Differences

LPG prices vary across Nigeria. The North-East recorded the highest average price for a 5kg cylinder at ₦6,929, followed by the South-East at ₦6,835. The South-West had the lowest average at ₦5,400.

Depot Prices

Depot rates also differ. As of January 31, 2025, major suppliers listed the price of a 20 metric ton (MT) load as follows:

NIPCO Depot: ₦20.1 million
NAVGAS Depot: ₦20.5 million

Impact on Nigerian Households

The sharp increase in LPG prices has placed a significant financial burden on households, with many forced to seek cheaper alternatives such as firewood and charcoal. This shift raises concerns over deforestation and air pollution, posing both environmental and health risks.

Cooking Gas

Government’s Response

In response to the rising cost of cooking gas, the Nigerian government is promoting Compressed Natural Gas (CNG) as a cleaner and more affordable alternative. Through the Presidential CNG Initiative, authorities aim to harness Nigeria’s vast gas reserves to ease energy costs for citizens.