Price of 5kg cooking gas hit N8,081 in October- NBS

The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N6,395.82 recorded in September to N8,081.75 in October.

The NBS said this in its “Cooking Gas Price Watch’’ for October released on Thursday in Abuja.

The report said that the October price represented a 26.36 per cent increase, compared to what was obtained in September.

It said that the average price of 5kg of cooking gas increased on a year-on-year basis by 16.86 per cent from N6,915.69 in October 2024.

On state profile analysis, the report showed that Borno recorded the highest average price at N8,376.44, followed by Yobe at N8,357.98, and Ondo at N8,340.30.

It said that Bauchi recorded the lowest price at N7,051.54, followed by Ebonyi and Akwa Ibom at N7,744.99 and N7,806.31, respectively.

Analysis of the six zones showed that the North-West recorded the highest average retail price at N8,188.55 for 5kg of cooking gas, followed by the North-Central at N8,153.21.

“The South-South recorded the lowest average retail price at N7,956.61,” the NBS said.

Also, the NBS report said that the average retail price for refilling a 12.5kg cooking gas increased by 15.36 per cent on a month-on-month basis from N16,155.09 in September to N18,636.77 in October.

It said that the average retail price for 12.5kg cooking gas rose by 11.37 per cent on a year-on-year basis from N16,734.55 in October 2024.

State profile analysis showed that Borno recorded the highest average retail price of N19,391.57 followed by Yobe at N19,339.51 and Ondo at N19,289.65

The report also showed that the lowest average price for 12.5kg of cooking gas was recorded in Ebonyi at N17,610.88, followed by Akwa Ibom and Anambra at N17,783.79, respectively.

Analysis by zone showed that the North-East recorded the highest average retail price of N18,953.86, followed by the North-West N18,861.70.

The report said that the South-South recorded the lowest price at N18,207.65.

The New Agency of Nigeria (NAN) recalls that the price of cooking gas skyrocketed from N1,100 per 1kg to as high as N1,800 per kg in various outlets immediately after the PENGASSAN strike commenced in September.

The Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, attributed the price surge to the industrial action by PENGASSAN at the Dangote Refinery.

The minister said that the ongoing maintenance activities at the Nigeria LNG train four facility is also party responsible.