24.05% Increase In Cooking Gas Price In One Year – NBS

The National Bureau of Statistics (NBS) has said that the average price of 5kg of cooking gas increased from ₦3,708.58 in February 2022 to ₦4,600.57 in February 2023.

This information was contained in the Bureau’s “Cooking Gas Price Watch’’ for February 2023 released on Friday in Abuja.

According to the report, the February price indicated a 24.05 pet cent increase comparted to the price in February 2022.

It added that on a month-on-month basis, the price rose by 0.26 per cent from ₦4,588.75 recorded in January 2023 to ₦4,600.57 in February 2023.

On state price analysis, the report showed that Kwara recorded the highest average price of ₦4,962.86 for refilling of a 5kg cooking gas, followed by Adamawa at ₦4,914.00, and Niger at ₦4,907.50.

It said on the other hand, Enugu recorded the lowest price at ₦4,179.41, followed by Rivers and Abia at ₦4,204.44 and ₦4,220.00 respectively.

Analysis by zone showed that the North-Central recorded the highest average retail price of ₦4,845.44 for 5kg cooking gas , followed by the North-West at ₦4,629.19. “The South-East recorded the lowest average price at ₦4,428.97 for 5kg cooking gas,” it added.

The NBS said the average retail price for refilling a 12.5kg cooking gas declined by 0.23 per cent on a month-on-month basis from N10,277.17 in January 2023 to N10,253.39 in February 2023. “On a year-on-year basis, this rose by 37.67 per cent from ₦7,447.79 in February 2022,” it added.