The price of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas, has dipped by 30 percent from N400 per kilogram (kg) in May to N280 per kg currently.
Major retailers of the product such as NIPCO Plc and IK Gases Ltd sell at N280/kg while other small retailers sell at N300 per kg, a market survey carried out by Daily Trust, reveals.
In the first half of this year, the product averagely remains at N400/kg in many parts of the country.
In Abuja and environs, the price of refilling a 12.5kg of LPG went as high as N6000 in the first quarter of the year. Also, LPG users spoken to have reported a drop in the price in Lagos, Kano, Kogi and Kaduna from what was obtained in the past.
LPG dealers attributed the drop in price to improved supply and distribution.
“There is more product coming in, that is the reason,” said President of the Nigerian Liquefied Petroleum Gas Association (NLGPA), Dayo Adeshina.
Managing Director of Lyushi Oil & Gas Ltd, Ibrahim Salka Bawa, also said, “There is availability of supply.”
The supply logjam that impeded stable availability of LPG was overcome recently following the unveiling of two LPG vessels in Ulsan, South Korea, by West Africa Gas Limited (WAGL), an NNPC joint venture company, and Sahara Energy Limited.
At the unveiling ceremony, Group Managing Director of the NNPC, Dr. Maikanti Baru, said the development promised to be a game changer in the supply network of LPG nationwide.
