The National Bureau of Statistics (NBS) has revealed a notable increase in the average price of 5kg cooking gas in Nigeria. According to the “Cooking Gas Price Watch” report released on Wednesday, the average price rose from ₦4,189.96 in September to ₦4,562.51 in October, representing an 8.89% increase.
On a year-on-year basis, the average price for 5kg of cooking gas also experienced a 1.76% surge, climbing from ₦4,483.75 in October 2022 to ₦4,562.51 in October 2023. The report highlighted state variations, with Kano recording the highest average price at ₦5,181.43, followed by Adamawa at ₦5,142.86, and Ogun at ₦5,093.75. Conversely, Ebonyi recorded the lowest price at ₦3,971.43.
In addition, the NBS noted an upward trend in the average retail price for refilling a 12.5kg cooking gas, reporting a 14.04% month-on-month increase from ₦9,247.40 in September to ₦10,545.87 in October. On a year-on-year basis, the average retail price for the 12.5kg cooking gas rose by 4.93%, from ₦10,050.53 in October 2022 to ₦10,545.87 in October 2023.
State profile analysis indicated that Edo recorded the highest average retail price for the 12.5kg cooking gas at ₦12,536.88, followed by Jigawa at ₦12,050.00, and Delta at ₦11,987.50. Conversely, Zamfara recorded the lowest average price at ₦9,050.00.
Furthermore, the report highlighted an increase in the average retail price per litre of kerosene to ₦1,303.16 in October 2023, representing a 0.32% month-on-month rise compared to ₦1,299.03 in September. On a year-on-year basis, the average retail price per litre of kerosene rose by 25.18% from ₦1,041.05 in October 2022.
State profile analysis revealed Adamawa as the state with the highest average price per litre of kerosene in October at ₦1,676.19, followed by Abia at ₦1,555.21 and Abuja at ₦1,541.67. Kwara recorded the lowest price at ₦1,034.29.
In terms of regional analysis, the South-East recorded the highest average retail price per litre of kerosene at ₦1,404.49, while the North-West recorded the lowest at ₦1,221.22.
Lastly, the average retail price per gallon of kerosene paid by consumers in October 2023 increased by 4.63% from ₦4,379.31 in September to ₦4,581.89. On a year-on-year basis, the average price per gallon rose by 30.28% from ₦3,516.87 in October 2022.
The NBS analysis also provided state and regional breakdowns, with Taraba recording the highest average retail price per gallon of kerosene at ₦5,500, and the North-East recording the highest average regional price at ₦5,096.83.
The report reflects the ongoing challenges faced by consumers in Nigeria amid price increases for essential household items.
