Lagos worst hit as price of cooking gas increases by over 19% - Report

News Agency Of Nigeria

March 23, 2024 6:40 PM

Analysis by zone showed that the South-East recorded the highest average retail price of ₦15, 954.60, followed by the South-South at ₦15, 943.40.

A cooking gas depot with customers queuing up to refill their cylinders. [Punch]

The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from ₦5,139.25 recorded in January 2023 to ₦6,154.50 in February 2024.

NBS disclosed that its “Cooking Gas Price Watch’’ for February 2024 was released on Saturday in Abuja.

The report said the February price represented a 19.75 per cent increase, compared to what was obtained in January 2024.

The NBS said the average price of 5kg of cooking gas increased on a year-on-year basis by 33.78 per cent from ₦4,600.57 recorded in February 2023 to ₦6,154.50 in February 2024.

On state profile analysis, the report showed that Lagos recorded the highest average price at ₦6,820.00, followed by Imo at ₦6,785.71, and Anambra at ₦6,750.00.

It said on the other hand, Yobe recorded the lowest price at ₦4,912.50, followed by Kebbi and Adamawa at ₦5,350.00 and ₦5,385.00, respectively.

Analysis by zone showed that the South-East recorded the highest average retail price at ₦6, 616.57 for 5kg cooking gas, followed by the South-West at ₦6, 513.30.

“The North-Central recorded the lowest average retail price at ₦5, 723.02,” the NBS said.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 28.33 per cent on a month-on-month basis from ₦11,735.72 in January 2024 to ₦15,060.38 in February 2024.

The report said the average retail price for 12.5kg cooking gas rose by 46.88 per cent on a year-on-year basis from ₦10,253.39 recorded in February 2023 to ₦15,060.38 in February 2024.

State profile analysis showed that Ogun recorded the highest average retail price of ₦16,375.00, followed by Delta at ₦16,333.33 and Edo at ₦16,321.43.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Bauchi at ₦13,167.50, followed by Katsina and Yobe at ₦13,562.50 and ₦13,610.00, respectively.

Analysis by zone showed that the South-East recorded the highest average retail price of ₦15, 954.60, followed by the South-South at ₦15, 943.40.

The report said the North-East recorded the lowest price at ₦14,035.88.

News Agency Of Nigeria