Cooking Gas Prices Surge in Nigeria Due to Various Factors

The cost of liquefied petroleum gas (LPG), commonly known as cooking gas, has decreased in Nigeria, causing financial strain on households already grappling with rising food and fuel costs. The current market data shows that the price of cooking gas has reached 1,000 naira per kilogram, with larger cylinder refill costs varying from 3,000 to 12,500 naira.

Factors contributing to this increase include the depreciation of the naira against the US dollar, making gas imports more expensive, global price rises, distribution and transport costs, and VAT levied by the federal government. The government had previously promised to remove VAT on LPG but has not done so, leading to inconsistencies in tax enforcement.

These factors continue to impact the market price of cooking gas in Nigeria, affecting consumers and businesses alike.