Cost of 5kg of cooking gas increases to N7,418.45, NBS

The National Bureau of Statistics (NBS) has reported a significant increase in the average price of 5kg cooking gas, which rose from N6,521.58 in April 2024 to N7,418.45 in May 2024, marking a 13.75 percent hike. The “Cooking Gas Price Watch” report for May 2024, released in Abuja, also highlighted a year-on-year increase of 70.12 percent from N4,360.69 in May 2023 to N7,418.45 in May 2024.

State-wise, Benue recorded the highest average price for 5kg cooking gas at N8,012.03, followed by Enugu at N7,926.21, and Ondo at N7,857.53. Conversely, Yobe had the lowest price at N5,842.31, with Jigawa and Katsina both recording N6,521.81.

Regionally, the South-East had the highest average price at N7,680.87, followed by the South-West at N6,593.93. The North-East reported the lowest average price at N7,071.84.

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In contrast, the average retail price for refilling a 12.5kg cooking gas cylinder saw a slight month-on-month decline of 0.07 percent, decreasing from N15,637.74 in April 2024 to N15,627.40 in May 2024. However, on a year-on-year basis, the price rose by 63.85 percent from N9,537.89 in May 2023 to N15,627.40 in May 2024.

Zamfara recorded the highest average price for 12.5kg cooking gas at N18,369.33, followed by Bayelsa at N17,772.21, and Abia at N17,538.02. Bauchi had the lowest average price at N13,076.43, with Ebonyi and Taraba following at N13,788.09 and N13,860.3, respectively.

Regional analysis revealed that the South-South had the highest average price for 12.5kg cooking gas at N16,310.02, followed by the North-West at N15,991.13. The North-East recorded the lowest price at N15,010.62.