According to the latest report from the National Bureau of Statistics (NBS), the average retail price for refilling a 5kg Liquefied Petroleum Gas (cooking gas) cylinder in Nigeria saw a significant decrease of 14.23% in July 2024. The price dropped from N6,966.03 in June to N5,974.55.
Despite this overall reduction, Borno State recorded the highest cost for refilling a 5kg cylinder at N7,088.59, making it the most expensive in the country.
The NBS report further indicated that Borno’s high price is consistent with trends in the North East, which had the highest average retail price for refilling a 5kg cylinder in July. Following Borno, Yobe State, also in the North East, had an average price of N6,935.50, ranking as the second most expensive, while Sokoto State in the North West placed third with an average cost of N6,750.00.#
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In contrast, Delta State in the South-South zone recorded the lowest price for refilling a 5kg cylinder at N5,392.86, followed by Zamfara in the North West at N5,431.25, and Kogi State in the North Central zone at N5,560.63.
Examining the geopolitical zones, the North East zone had the highest average price for a 5kg gas cylinder refill at N6,446.53 in July 2024, marking a 5.30% decline from June and a notable 57.70% increase from July 2023.
The North Central zone followed with an average of N6,042.33, reflecting a 14.85% month-on-month decline but a 36.53% rise year-on-year. The North West zone recorded an average price of N6,014.54, showing a 9.69% drop from June and a 40.99% year-on-year increase.
In the South West, the average price stood at N5,864.64, representing a 19.02% decline from June but a 58.02% rise from the previous year.
The South East reported an average price of N5,773.82, a 17.07% decline month-on-month and a 50.05% increase year-on-year. Lastly, the South-South zone had the lowest average price at N5,654.04, reflecting a 19.88% decline from June and a 42.41% increase from July 2023.
The month-to-month fluctuations in the average price of refilling a 5kg gas cylinder from July 2023 to July 2024 were as follows:
- July 2023: N4,072.87
- August 2023: N4,115.32
- September 2023: N4,189.96
- October 2023: N4,562.51
- November 2023: N4,828.18
- December 2023: N4,962.87
- January 2024: N5,139.25
- February 2024: N6,154.50
- March 2024: N6,591.62
- April 2024: N6,521.58
- May 2024: N7,418.45
- June 2024: N6,996.03
- July 2024: N5,974.55
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