The average retail price of refilling a 12.5kg cylinder of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas dropped by 13.3 percent on a month-on-month, MoM basis to N16,250 in January 2025 from N18,750 in December, 2024.
Checks by Vanguard showed that the price of 1kg of gas dropped by 13.3 percent to N1, 300 from N1,500. A visit to some accredited gas plant, showed that the price of a kg was sold at N1, 250 while others retail the product at N1, 400 per kg.
In an interview with the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM, Mr. Olatunbosun Oladapo on the latest development, he said “as an association, we are advocating for the full usage of LPG as a means of cooking, therefore, the only way to achieve this is to ensure its affordability”
However, “as of today, the average price to fill a kg of gas within the southwest is around N1, 300 to N1, 250. The government has also put measures in place to ensure the price is stable. Generally, the price increase is caused by government influence, demand and supply but presently, all gas plants are wet, supply is going on steadily and demand has not really outgrown supply in Nigeria”.
“We have more than 70 percent of our consumption being produced locally. We are not solely relying on imported price; the effect of local production has made the price stabilize in Nigeria. Therefore, if we produce enough, the national price would not be affected”.
While reacting to gas plants that sell at N1, 400 per kg, Oladapo said, “there are people that make life difficult, there are plants that sell at N1,210 and N1,250, the highest is N1,300. Anyone selling N1,400 is extorting innocent Nigerians. This is one of the reasons we publish prices on a daily basis, the awareness is important in order not to extort Nigerians.
“The beauty of the industry is that it is an open market; also competition will further drive the price down.”