Nigeria's Cooking Gas Prices Drop Amid Supply Improvement

Cooking gas prices in Nigeria have begun to decline as supply improves across various regions. The retail price of liquefied petroleum gas (LPG) now ranges from 1,100 to 1,650 Naira per kilogram, depending on the location, with Lagos, Ibadan, and Abeokuta reporting prices between 1,100 and 1,350 Naira.

In contrast, northern states like Kano and Kaduna see prices ranging from 1,300 to 1,550 Naira, while Maiduguri records the highest at 1,650 Naira. This price reduction follows a period of high prices, which surged to 2,000 Naira per kilogram due to supply shortages and increased logistics costs.

Edu Inyang, from the Nigerian Association of Liquefied Petroleum Gas, noted that the improved supply has eased market tensions. Ayobami Olarinoy from NUPENG emphasized that the gradual return of normalcy in the sector is crucial for maintaining stable prices.

The article indicates that sustained price stability will depend on continued domestic supply and efficient distribution.