The National Bureau of Statistics (NBS) has reported a significant increase in the average price of cooking gas in Nigeria. According to the latest data released in March 2024, the average price of a 5kg cooking gas cylinder rose from N6,154.50 in February 2024 to N6,591.62, representing a 7.10% increase.

On a year-on-year basis, the average price of a 5kg cooking gas cylinder has surged by 42.97% from N4,610.48 in March 2023 to N6,591.62 in March 2024. The state profile analysis revealed that Kano had the highest average price at N7,609.00, followed by Ogun at N7,363.64, and Akwa Ibom at N7,162.50. Conversely, Adamawa had the lowest price at N5,312.50.

In terms of regional analysis, the South-South region recorded the highest average retail price for cooking gas at N7,003.08, followed by the South-West at N6,723.22. The North-East had the lowest average retail price at N6,221.30.

Furthermore, the average retail price for refilling a 12.5kg cooking gas cylinder also saw an increase, rising by 5.77% from N15,060.38 in February 2024 to N15,929.04 in March 2024. On a year-on-year basis, the average retail price for a 12.5kg cooking gas cylinder increased by 55.22% from N10,262.56 in March 2023 to N15,929.04 in March 2024.

State profile analysis for the 12.5kg cooking gas cylinder showed that Sokoto had the highest average retail price at N17,833.33, followed by Osun at N17,588.46, and Anambra at N17,417.65. Conversely, Katsina had the lowest average price at N12,400.00, followed by Kebbi and Bauchi at N13,137.50 and N14,484.25, respectively.

In terms of regional analysis for the 12.5kg cooking gas cylinder, the South-South region once again recorded the highest average retail price at N16,859.85, followed by the South-East at N16,734.87. The North-East had the lowest price at N14,943.48.

These price increases highlight the challenges faced by consumers in Nigeria and underscore the need for sustainable solutions to ensure affordable access to cooking gas for all households.