Nigeria is experiencing a surge in the price of Liquefied Petroleum Gas, also known as cooking gas, amidst uncertainty surrounding its supply. A recent survey in Abuja and its environs revealed that the price of 1 kilogramme of cooking gas has increased to N1,500, up from N1,200 last week.

In specific areas, such as Gwarimpa and Dawaki, cooking gas dealers have adjusted their prices to N17,500 for 12.5 kg, a rise from the previous price of N15,000. Similarly, the Nigerian National Petroleum Company Limited retail outlet along the Kubwa Expressway is now selling 12.5 kg of cooking gas for N15,000, an increase from N13,625.

The hike in prices is attributed to the increase in depot prices of cooking gas over the last week. According to gas price data, Dangote Refinery’s ex-depot price for 20 metric tonnes stands at N15,800, while Ardova, NIPCO, and Shafa Energy are selling at N18,400. Notably, 1 metric tonne is equivalent to 20 kilogrammes of LPG.

The scarcity of LPG in major cities like Lagos and Kano has contributed to the price increase. The National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Oladapo Olatunbosun, has attributed the price hike to artificial scarcity, stating that some marketers are taking advantage of the shortage to increase prices.

The rise in cooking gas prices has significant implications for consumers, particularly households that rely heavily on this fuel for cooking. As the supply chain continues to experience disruptions, it is essential to monitor the situation closely and explore potential solutions to mitigate the effects of the price hike. The Nigerian government and relevant stakeholders must work together to address the underlying issues contributing to the scarcity and price volatility of LPG.