Cooking Gas Prices Bite Deeper: 8.7% Increase in a Year, Burdening Nigerian Homes
Cooking gas prices in Nigeria have recently surged, as indicated by the latest report from the National Bureau of Statistics (NBS). The average cost of a 5kg cylinder has escalated by 8.7% within just one year, reaching N4,962.87 compared to N4,565.56 in December 2022.
The situation worsened in December, witnessing a 2.79% increase from November 2023. This heightened financial burden is especially noticeable in states like Adamawa (N5,725.33), Jigawa (N5,686.88), and Lagos (N5,671.05), impacting household budgets nationwide.
Although certain states, such as Ebonyi (N4,071.43), Imo (N4,088.24), and Abia (N4,155.88), offer relief with lower prices, the overall trend is disconcerting. The North-East region bears the highest average price at N5,256.61, followed by the North-West at N5,144.50.
For users of larger 12.5kg cylinders, the news is equally grim. Prices rose by 3.18% month-on-month, soaring from N11,155.15 in November to N11,510.16 in December. The year-on-year increase is even more pronounced at 12.31%.
States like Cross River (N13,572.22), Edo (N13,265.63), and Delta (N13,041.67) are particularly affected when it comes to larger cylinders. Conversely, Ebonyi (N10,142.86), Imo (N10,150.90), and Anambra (N10,264.29) provide some relief.
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At the zonal level, the South-South region tops the list with the highest average price at N12,700.14, followed by the North-Central at N11,585.89. The South-East region remains the most affordable at N10,632.14.
This data paints a concerning picture for Nigerian households already grappling with inflation and economic challenges. The escalating cost of cooking gas, an essential necessity, compounds the existing hardships. With no immediate signs of price stabilization, Nigerians are poised to navigate this ongoing fuel price squeeze in the foreseeable future.
