The National Bureau of Statistics (NBS), has disclosed that cooking gas prices increased by 61%, as 12kg of the commodity is now selling for at least N9,906, from the N6,165 it was sold in September 2021.
In its report on Liquefied Petroleum Gas (cooking gas) Price Watch for last month (September 2022), the NBS stated that Cross River recorded the highest average retail price for the refilling of a 12.5kg cylinder of the product with N10,937, followed by Kogi with N10,760 and Oyo with N10,724.
Conversely, the lowest average price was recorded in Yobe with N8,350, followed by Katsina and Taraba with N8,545 and N9,026 respectively.
Analysis by zone showed that the South-West recorded the highest average retail price for refilling a 12.5kg cylinder with N10,320, followed by the South-South with N10,202, while the North-East recorded the lowest price with N9,300.
Nigerians cautioned against panic-buying of cooking gas
Due to rising prices, coupled with the recent force majeure announcement by Nigeria Liquefied Natural Gas Limited (NLNG), the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), has cautioned Nigerians against panic buying.
The group’s President, Oladapo Olatunbosun, made the appeal in a statement against the backdrop of NLNG’s declaration of force majeure on its gas facility due to flood.
Olatunbosun said cooking gas consumers should not panic about a possible scarcity of the product as a result of the force majeure
“Based on information reaching the association, the NLNG has not shut down its production facility in Bonny as rumoured,” he added.
Meanwhile, Bola Tom-Jones, the Chief Executive Officer (CEO) of Moores Energy, had sought the removal of Value Added Tax (VAT) on cooking gas.
In an interview with BizWatch Nigeria, where she made this known, the highly-revered energy tycoon said the VAT on imported cooking gas is an anti-masses policy, adding that the end consumers bear the brunt of it.
According to her, the VAT removal would help in reducing the prices of the commodity.
