Nigerian Retailers Slash Cooking Gas Price by N1,000, Market Stabilization Expected

Nigerian retailers have reduced the price of liquefied petroleum gas (LPG) by N1,000 per kilogram, easing the financial burden on consumers. Ayobami Olarinoy, Chairman of the Liquefied Petroleum Gas Retail Association, confirmed the price drop and expressed optimism for further improvements in the market.

The market has been volatile, with recent price surges causing concerns among consumers. Olarinoy dismissed claims of price distortion, stating that Dangote Refinery sold LPG at a higher price to off-takers.

The current retail price range is between N1,300 to N1,500 per kilogram, down from N2,500. Consumers are hopeful for more price reductions in the future.