The National Bureau of Statistics (NBS) reports a 69.15% year-on-year increase in the average retail price of refilling a 12.5kg cylinder of Liquefied Petroleum Gas (cooking gas).
The price jumped from ₦9,194 in August 2023 to ₦15,552 in August 2024. On a month-on-month basis, the price rose by 9.05% from ₦14,261 in July 2024.
Rivers, Cross River, and Abia states recorded the highest prices at ₦17,086, ₦17,050, and ₦17,012 respectively. Bauchi, Nassarawa, and Adamawa had the lowest prices at ₦13,425, ₦13,641, and ₦13,725.
For 5kg cylinders, Benue and Sokoto tied for the highest price at ₦7,000. Taraba, Abuja, and Kogi had the lowest prices at ₦5,600, ₦5,825, and ₦5,857.
Zone-wise, the South-East recorded the highest average price for 5kg cylinders at ₦6,585. The North-Central had the lowest at ₦6,344.
Rising inflation and supply chain disruptions may be contributing factors. Consumers are concerned about the impact on household expenses.
The NBS report highlights the need for policymakers to address the rising costs of essential commodities.
Discover more from SMALL BUSINESS INSIGHTS
Subscribe to get the latest posts to your email.
