The National Bureau of Statistics (NBS) has reported an increase in the average price of a 5kg cooking gas cylinder from N5,139.25 in January 2023 to N6,154.50 in February 2024,Daily Trust reports.
According to the NBS “Cooking Gas Price Watch” released in Abuja on Saturday, this February price reflects a 19.75% rise compared to January 2024. On a year-on-year basis, there was a 33.78% increase from N4,600.57 in February 2023 to N6,154.50 in February 2024.
The report also provided state-wise details, indicating Lagos had the highest average price at N6,820.00, followed by Imo at N6,785.71 and Anambra at N6,750.00. Conversely, Yobe had the lowest price at N4,912.50, followed by Kebbi and Adamawa at N5,350.00 and N5,385.00 respectively.
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Regional analysis revealed the South-East had the highest average retail price for a 5kg cooking gas cylinder at N6,616.57, followed by the South-West at N6,513.30, while the North-Central had the lowest at N5,723.02.
Furthermore, the NBS noted a 28.33% month-on-month increase in the average retail price for refilling a 12.5kg cooking gas cylinder, rising from N11,735.72 in January 2024 to N15,060.38 in February 2024. On a yearly basis, this represents a 46.88% surge from N10,253.39 in February 2023 to N15,060.38 in February 2024.
State-wise, Ogun had the highest average retail price at N16,375.00, followed by Delta at N16,333.33 and Edo at N16,321.43. Conversely, the lowest average price for a 12.5kg cooking gas cylinder was in Bauchi at N13,167.50, followed by Katsina and Yobe at N13,562.50 and N13,610.00 respectively.
Regional analysis indicated the South-East had the highest average retail price for a 12.5kg cooking gas cylinder at N15,954.60, followed by the South-South at N15,943.40, while the North-East had the lowest price at N14,035.88.
