A report by the National Bureau of Statistics (NBS), confirmed that the price of Liquefied Petroleum Gas, popularly called cooking gas, in Nigeria dropped by 14.23% in July 2024.
The report said the price per 5kg of cooking gas fell from ₦6,966.03 in June to ₦5,974.55 within the period under consideration.
The price variance is based on the recently released Liquefied Petroleum Gas (Cooking Gas) Price Watch report by the NBS.
The report said on a state-by-state basis, Borno State, located in the Northeast, recorded the highest price for refilling a 5kg cylinder at ₦7,088.59.
The NBS report further revealed that Yobe State, also in the North East zone, followed closely behind Borno with an average retail price of ₦6,935.50, making it the second most expensive state for refilling a 5kg gas cylinder. Sokoto State, ranked third with an average price of ₦6,750.00.
On the other hand, Delta State had the lowest price for refilling a 5kg gas cylinder in July 2024 in the South-South zone, with an average price of ₦5,392.86, followed by Zamfara in the North West zone at ₦5,431.25, and Kogi State in the North Central zone at ₦5,560.63.
On a geopolitical basis, the NBS report detailed that the North East zone recorded the highest average price at ₦6,446.53 in July 2024. This reflects a 5.30% month-on-month decline and a significant 57.70% year-on-year increase.
The North Central zone followed with an average price of ₦6,042.33, showing a 14.85% decline from June and a 36.53% increase compared to July 2023.
The North West zone recorded an average of ₦6,014.54, marking a 9.69% drop from June and a 40.99% rise year-on-year.
The South West zone reported an average price of ₦5,864.64 for refilling a 5kg gas cylinder in July 2024, representing a 19.02% decline from the previous month and a 58.02% increase year-on-year.
The South East zone followed with an average price of ₦5,773.82, reflecting a 17.07% decline from June 2024 and a 50.05% increase compared to July 2023.
Lastly, the South-South zone recorded the lowest average price for refilling a 5kg gas cylinder in Nigeria in July 2024, at ₦5,654.04. This represents a 19.88% month-on-month decline and a 42.41% increase year-on-year.
