Cooking Gas Prices Surge in Nigeria as Depots Face Stock Shortages

Cooking gas prices in Nigeria have surged as depots face stock shortages, impacting the Liquefied Petroleum Gas (LPG) market. Reports indicate zero availability of butane and propane in depots, leading to increased prices.

Stockgap Depot in Port Harcourt is selling LPG at around a higher rate per kilogram due to the scarcity. Lagos residents, who consume a significant portion of Nigeria's LPG, are particularly affected by the shortage.

The lack of local supply in the city has raised concerns about inflated prices and longer supply chains, affecting households and small businesses. Analysts warn of further price hikes in the coming weeks, especially with rising demand towards the end of the year and festive season.