The cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has reduced in Nigeria, decreasing additional financial strain on households already dealing with rising food and fuel costs.
According to current market data, the price of cooking gas has reached ₦1,000 per kilogram, with larger cylinder refills now costing significantly more:
1kg – ₦1,000
3kg – ₦3,000
5kg – ₦5,000
10kg – ₦10,000
12kg – ₦12,000
12.5kg – ₦12,500
Factors that might drive an increase in the price of cooking gas
1. Depreciation of the Naira
The weakening of the Naira against the US dollar has made gas imports more expensive.
Despite Nigeria’s domestic gas reserves, much of the cooking gas is still imported or refined with imported inputs.
2. Rising Global Prices
The international price of LPG has gone up due to high demand in Asia and Europe, especially during the winter months.
This affects local prices due to Nigeria’s exposure to global gas market dynamics.
3. Distribution & Transportation Costs
From the ports to filling plants and retailers, every stage of the LPG supply chain has become costlier due to increased diesel prices and insecurity on roads.
4. VAT and Other Levies
While the federal government has previously promised to remove VAT on LPG, inconsistent tax enforcement and rising regulatory costs continue to affect market pricing.Get The Full ,
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