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Cooking Gas Prices Tumbles Below N900 Per KG
Cooking gas prices in Nigeria have reached a four-month low, falling below N900/kg due to government removals of VAT and import duties, stable forex rates, and nationwide distribution of free LPG cylinders.
EKO HOT BLOG reports that a recent survey has revealed that the average price of cooking gas in Nigeria has dropped to its lowest point in the last four months.
According to market dealers, this price reduction is due to government actions, including the removal of Value Added Tax (VAT) and import duties on cooking gas, aimed at boosting local supplies.
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Additionally, the relative stability of the naira against the dollar in the foreign exchange market has contributed to this decline.
The government has also begun the free distribution of one million LPG cylinders nationwide to enhance access. Market checks indicate that the current price of cooking gas has fallen below N900 per kilogram for the first time in four months. Earlier in 2024, cooking gas prices were reduced to below N800 after peaking at N1,300 per kilogram.
Dealers emphasize the need for the government to sustain these efforts to ensure cooking gas remains affordable for Nigerians. A manager at Gasland, who spoke anonymously with Legit, confirmed the price reduction.
Cooking Gas Prices Fall
He noted that dealers are now accessing forex more easily in the official market, facilitating imports.
He also praised the government’s removal of bottlenecks such as VAT and import duties, and the distribution of gas cylinders to enhance LPG access.
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He added that further government interventions to support marketers could lead to even lower prices.
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