Cooking Gas Prices Drop 39% Nationwide in Nigeria

The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has decreased by about 39% across Nigeria, now priced between N1,100 and N1,650 per kilogramme. This decline is attributed to increased supply, which has extended national LPG availability from 11 days to 22 days.

Daily domestic supply rose from 4,262 metric tonnes in May to 5,040 metric tonnes in June. In major cities like Lagos and Ibadan, prices have dropped significantly from a peak of around N2,300 per kilogramme in June.

Adeleye Falade, Managing Director of Nigeria LNG Limited (NLNG), stated that maintaining these lower prices will require collaboration among the Federal Government, regulators, and industry operators. He emphasized the need for improved domestic LPG supply and infrastructure, as well as addressing multiple taxes and regulatory charges that inflate operating costs.

Despite the price drop, there are emerging pressures at the wholesale level, with some operators adjusting rates due to rising international crude oil prices.