COOKING GAS PRICES DROP BY 7.10% IN DECEMBER.

By Oluwabukola Jimoh ــ Last Update 31 December 2023

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To shed light on the changing prices of Liquefied Petroleum Gas (LPG) in different regions of Nigeria, we have compiled a thorough report on LPG prices for December 2023. This report details the costs of LPG in numerous cities nationwide, covering both the 12.5kg cylinder and per kilogram rates. Additionally, it offers a comparison with November's prices. Our findings are based on insights collected from 23 respondents, predominantly sourced from responses on Facebook and X.

Cities Surveyed: Abia, Adamawa, Bauchi, Benue, Enugu, Bayelsa, Ibadan, Abeokuta, Ore in Ondo, Ogun, Gombe, Taraba, Opa in Ondo, Maiduguri, Ipetumodu in Osun, Ilorin, Owo in Ondo, Katsina, Alimosho in Lagos, Jigawa, Ibadan, Lekki in Lagos, and Ikorodu in Lagos represent the diverse tapestry of cities across Nigeria.

Based on the prices of LPG in the provided cities, listed from highest to lowest:

Highest Cost:

Benue: 15,000 Naira for 12.5kg (1,200 Naira per kg)

Taraba: 15,000 Naira for 12.5kg (1,200 Naira per kg)

Adamawa: 13,125 Naira for 12.5kg (1,050 Naira per kg)

Maiduguri: 13,750 Naira for 12.5kg (1,100 Naira per kg)

Ipetumodu - Osun: 13,750 Naira for 12.5kg (1,100 Naira per kg)

Intermediate Cost:

Abia, Ibadan, Alimosho - Lagos, Ikorodu - Lagos: 12,500 Naira for 12.5kg (1,000 Naira per kg)

Katsina: 12,000 Naira for 12.5kg (960 Naira per kg)

Enugu, Bayelsa, Abeokuta, Gombe: 11,875 Naira for 12.5kg (950 Naira per kg)

Lowest Cost:

Bauchi: 11,500 Naira for 12.5kg (920 Naira per kg)

Ore, Ondo, Ogun, Opa Ondo, Lekki - Lagos: 11,250 Naira for 12.5kg (900 Naira per kg)

Illorin: 11,750 Naira for 12.5kg (940 Naira per kg)

Jigawa: 11,575 Naira for 12.5kg (926 Naira per kg)

Ibadan: 10,625 Naira for 12.5kg (850 Naira per kg)

In our November survey, the average price for a 12.5kg cylinder of cooking gas in Nigeria was ₦13,190. However, by December, prices took a promising turn, dropping to an average of ₦12,253, showcasing a noteworthy decrease of ₦937. This reduction signifies a 7.10% decrease in prices from November to December, marking a positive shift in affordability and accessibility for consumers. The decline can be largely attributed to the elimination of import duty and VAT on imported LPG, constituting approximately 12.5% of the landing cost. Additionally, the FX rate showed some relief, dropping from its peak of 1300 in the parallel market in October and November to around 1200 in December.

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Oluwabukola Jimoh

Oluwabukola Jimoh is a dynamic academic writer and captivating energy blogger. She is able to delve into intricate subjects with an insatiable thirst for knowledge, crafting thought-provoking essays that engage and enlighten her readers.