The National Bureau of Statistics (NBS) has revealed that the average price for a 5kg cylinder of cooking gas in Nigeria saw an upward trend, increasing from N6,430.02 in August 2024 to N6,699.63 in September 2024. This data was published in the Bureau’s “Cooking Gas Price Watch” report for September 2024, which was released on Friday in Abuja. According to the report, this price rise represents a 4.19% increase when compared to the price recorded the previous month.
In addition to the month-on-month price change, the NBS report also highlighted a sharp rise in the price of cooking gas over the past year. Specifically, the average price of a 5kg cylinder increased by a striking 59.90%, jumping from N4,189.96 in September 2023 to N6,699.63 in September 2024.
When analyzing the price data by state, the report showed that Rivers State recorded the highest average price for a 5kg cylinder, with consumers paying an average of N7,285.71. Close behind were Gombe at N7,271.88 and Borno at N7,089.72. On the opposite end of the spectrum, Kebbi State had the lowest price at N5,950.00, followed by Kano at N6,133.33 and Benue at N6,143.52.
Breaking down the data by geographical zones, the report showed that the North-East had the highest average retail price for a 5kg cylinder at N6,929.02. The South-East followed closely with an average price of N6,893.47. Meanwhile, the North-West region recorded the lowest average price at N6,382.30.
The report also provided data on larger cylinders, noting that the average retail price for refilling a 12.5kg cylinder of cooking gas saw a 4.89% month-on-month increase, rising from N15,552.56 in August 2024 to N16,313.43 in September 2024. Over the course of a year, the price for this larger cylinder skyrocketed by 76.41%, with the average cost rising from N9,247.40 in September 2023 to N16,313.43 in September 2024.
A detailed analysis of the 12.5kg cylinder prices by state revealed that Rivers State again had the highest average price at N17,992.86, followed by Gombe at N17,942.86 and Zamfara at N17,475.00. In contrast, Adamawa had the lowest recorded price at N13,983.33, followed by Nassarawa at N14,938.50 and Bauchi at N15,000.00.
The NBS report further broke down the data by zones, showing that the South-East recorded the highest average retail price for a 12.5kg cylinder at N16,957.29, followed by the South-West at N16,665.45. The North-East region recorded the lowest price for a 12.5kg cylinder, with an average of N15,770.75.
In addition to tracking the price of cooking gas, the NBS also reported on the average retail price of kerosene, a vital household fuel for many Nigerians. According to the Bureau’s “National Kerosene Price Watch” for September 2024, the average price per litre of kerosene rose by 5.97% on a month-on-month basis, increasing from N1,847.59 in August 2024 to N1,957.44 in September 2024. On a year-on-year basis, the price per litre of kerosene saw a steep increase of 50.68%, rising from N1,299.03 in September 2023.
The state-level analysis for kerosene prices showed that Abuja recorded the highest average price at N2,816.67 per litre in September, followed by Kaduna at N2,437.50 and Akwa Ibom at N2,411.11. On the other hand, the lowest price was found in Bayelsa, where consumers paid an average of N1,416.67 per litre, followed by Borno at N1,477.83 and Ekiti at N1,635.00.
The zonal analysis for kerosene prices showed that the North Central region recorded the highest average retail price per litre at N2,194.05, followed by the North-West at N2,092.92. Conversely, the South-East recorded the lowest average price at N1,718.89 per litre.
In addition to tracking the price per litre, the NBS also reported on the average retail price for a gallon of kerosene. In September 2024, the price per gallon increased by 5.84%, rising from N6,441.94 in August 2024 to N6,818.1. On a year-on-year basis, the price per gallon of kerosene jumped by 55.69%, rising from N4,379.31 in September 2023.
The state-level analysis of kerosene prices per gallon showed that Katsina recorded the highest price at N8,400, followed by Jigawa at N8,100 and Kebbi and Ogun at N8,000. On the opposite end, Nasarawa had the lowest price at N5,250.00, followed by Adamawa at N5,281.25 and Niger at N5,291.67.
When analyzed by zone, the North-West region recorded the highest average price per gallon of kerosene at N7,809.52, followed by the South-East at N7,700.19. Meanwhile, the North-Central zone recorded the lowest average price, with consumers paying an average of N6,092.77 per gallon of kerosene.
These price increases across both cooking gas and kerosene are likely to have a profound effect on households across Nigeria, particularly those that rely heavily on these fuels for daily cooking and heating needs. The report highlights the rising cost of living and its impact on consumers, as well as the regional disparities in fuel prices across the country.
Source: NAN
