‘Price Of 5kg Of Cooking Gas Increase From ₦6,430 To ₦6,699 In September’

The National Bureau of Statistics (NBS) has revealed a notable rise in the average price of cooking gas, with the cost of a 5kg cylinder increasing from ₦6,430.02 in August to ₦6,699.63 in September 2024.

This marks a 4.19 percent increase from the previous month and a staggering 59.90 percent rise compared to ₦4,189.96 recorded in September 2023.

The findings were published in the Bureau’s “Cooking Gas Price Watch” for September 2024, released on Friday.

The report indicates that the highest average price for a 5kg cylinder was recorded in Rivers State at ₦7,285.71, followed closely by Gombe at ₦7,271.88 and Borno at ₦7,089.72. Conversely, Kebbi recorded the lowest price at ₦5,950.00, with Kano and Benue at ₦6,133.33 and ₦6,143.52, respectively.

Regional analysis revealed that the North-East had the highest average retail price for 5kg of cooking gas at ₦6,929.02, while the North-West reported the lowest at ₦6,382.30.

The NBS also reported a 4.89 percent increase in the average retail price for refilling a 12.5kg cooking gas cylinder, which rose from ₦15,552.56 in August to ₦16,313.43 in September. On a year-on-year basis, this represents a dramatic 76.41 percent increase from ₦9,247.40 recorded in September 2023.

In terms of state averages, Rivers State again topped the list with the highest price for a 12.5kg cylinder at ₦17,992.86, followed by Gombe at ₦17,942.86 and Zamfara at ₦17,475.00. The lowest prices were found in Adamawa at ₦13,983.33, with Nassarawa and Bauchi following closely at ₦14,938.50 and ₦15,000.00, respectively.

Additionally, the NBS highlighted a rise in the average retail price per litre of kerosene, which increased to ₦1,957.44 in September, marking a 5.97 percent rise from ₦1,847.59 in August. Year-on-year, kerosene prices have surged by 50.68 percent from ₦1,299.03 in September 2023.

Abuja recorded the highest average price for kerosene at ₦2,816.67 per litre, with Kaduna and Akwa Ibom following at ₦2,437.50 and ₦2,411.11, respectively. On the flip side, Bayelsa recorded the lowest price at ₦1,416.67 per litre.

The report indicates that the North Central zone experienced the highest average retail price per litre of kerosene at ₦2,194.05, while the South-East recorded the lowest at ₦1,718.89.