5kg cooking gas in Nigeria rises to ₦4,962.87 in December 2023 - NBS

This is contained in the Bureau’s “Cooking Gas Price Watch’’ for December 2023 released on Monday in Abuja. The report said the December price represented a 2.79% increase, compared to what was obtained in November.

The NBS said the average price of 5kg of cooking gas increased on a year-on-year basis by 8.70% from ₦4,565.56 recorded in December 2022 to ₦4,962.87 in December 2023.

On state profile analysis, the report showed that Adamawa recorded the highest average price at ₦5,725.33 for 5kg cooking gas, followed by Jigawa at ₦5,686.88, and Lagos at ₦5,671.05. It said on the other hand, Ebonyi recorded the lowest price at ₦4,071.43, followed by Imo and Abia at ₦4,088.24 and ₦4,155.88, respectively.

Analysis by zone showed that the North-East recorded the highest average retail price at ₦5,256.61 for 5kg cooking gas, followed by the North-West at ₦5,144.50.

“The South-East recorded the lowest average retail price at ₦4,155.59,” the NBS added.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 3.18% on a month-on-month basis from ₦11,155.15 in November 2023 to ₦11,510.16 in December 2023.

The report said the average retail price for 12.5kg cooking gas rose by 12.31% on a year-on-year basis from ₦10,248.97 recorded in December 2022 to ₦11,510.16 in December 2023. State profile analysis showed that Cross River recorded the highest average retail price of ₦13,572.22 for 12.5kg cooking gas, followed by Edo at ₦13,265.63 and Delta at ₦13,041.67.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Ebonyi at ₦10,142.86, followed by Imo and Anambra with ₦10,150.90 and ₦10,264.29, respectively. Analysis by zone showed that the South-South recorded the highest average retail price of ₦12,700.14 for 12.5kg cooking gas, followed by the North-Central at ₦11,585.89.

The report said the South-East recorded the lowest price at ₦10,632.14. The NBS said the average retail price per litre of kerosene increased to ₦1,362.27 in December 2023 on a month-on-month basis, showing an increase of 5.84%, compared to the ₦1,287.10 recorded in November.

According to its National Kerosene Price Watch for December, on a year-on-year basis, the average retail price per litre of kerosene rose by 23.33% from ₦1,104.61 in December 2022.

On state profile analysis, the report showed that Abuja recorded the highest average price at ₦1,650.00 per litre of kerosene in December, followed by Ogun at ₦1,609.52 and Benue at ₦1,594.44.

“On the other hand, the lowest price was recorded in Kwara at ₦917.14, followed by Rivers at ₦969.70 and Nasarawa at ₦1,071.43.”

The NBS said the analysis further showed that the South-West recorded the highest average retail price per litre of Kerosene at ₦1,455.21, followed by the North-West at ₦1,420.48. It said the South-East recorded the lowest average retail price per litre of kerosene at ₦1,264.49.

The report said the average retail price per gallon of Kerosene paid by consumers in December 2023 was ₦4,529.92, indicating a 1.17% decline from ₦4,583.44 recorded in November.

“On a year-on-year basis, the average price per gallon of kerosene increased by 20.69% from ₦3,753.38 recorded in December 2022”.

On state profile analysis, it showed that Bauchi recorded the highest average retail price at ₦5,600.00 per gallon of kerosene, followed by Lagos at ₦5,273.53 and Ekiti at ₦5,234.38. On the other hand, the report said Delta recorded the lowest price at ₦3,234.29, followed by Bayelsa and Kaduna at ₦3,538.03 and ₦3,560.00, respectively.

Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at ₦5,077.08, followed by the South-West at ₦5,014.48.

“The South-South recorded the lowest average price per gallon of Kerosene at ₦3,957.17,” the NBS stated.