The National Bureau of Statistics (NBS) has revealed that the south-south geopolitical zone recorded the highest average retail price for a 12.5kg cylinder of liquefied petroleum gas (LPG), commonly known as cooking gas, in October 2024.
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The bureau’s latest report, titled Cooking Gas Price Watch, highlights a 58.68% year-on-year increase in the price of the commodity.
Key Highlights:
- The average price for refilling a 12.5kg cylinder of LPG rose from ₦16,313.43 in September 2024 to ₦16,734.55 in October 2024, representing a 2.58% month-on-month increase.
- On a year-on-year basis, the price surged from ₦10,545.87 in October 2023, marking a significant 58.68% increase.
State-by-State Analysis:
- Rivers State recorded the highest average price for a 12.5kg refill at ₦17,895, followed by Osun (₦17,739.06) and Benue (₦17,731.25).
- The lowest prices were observed in Katsina (₦14,725), Nasarawa (₦15,390.55), and Adamawa (₦15,474.21).
Zonal Analysis:
- The South-South zone had the highest average price at ₦17,114.67, followed by the South-East at ₦16,906.01.
- The North-Central zone recorded the lowest average price at ₦16,411.19.
Price of 5kg LPG Also Increases:
The report also noted a spike in the price of 5kg LPG cylinders:
- The average price for refilling a 5kg cylinder rose by 3.23% month-on-month, from ₦6,699.63 in September to ₦6,915.69 in October 2024.
- Year-on-year, the price increased by 51.58%, from ₦4,562.51 in October 2023.
State and Zonal Breakdown for 5kg Cylinders:
- Borno recorded the highest average price at ₦7,939.29, followed by Yobe (₦7,580) and Benue (₦7,578).
- Katsina recorded the lowest price at ₦6,270, followed by Zamfara (₦6,410.71) and Delta (₦6,427.78).
By zones, the North-East had the highest average price for a 5kg refill at ₦7,319.03, followed by the South-West (₦6,961.58), while the North-West recorded the lowest price at ₦6,703.95.
