Cooking Gas Price Drops by 6% in May 2023: NBS Report

The National Bureau of Statistics (NBS) reported that the average price of refilling a 5kg cylinder of cooking gas has dropped by 6.07 per cent in May 2023 compared to April 2023.

The NBS report, titled “Cooking Gas Price Watch’’ for May 2023, revealed that the average price of 5kg of cooking gas decreased from N4,642.27 in April 2023 to N4,360.69 in May 2023.

However, on a yearly basis, the price increased by 11.20 per cent from N3,921.35 in May 20221.

The report also showed the state-by-state variation in the price of cooking gas across Nigeria.

The states with the highest average price of refilling a 5kg cylinder of cooking gas were Bayelsa (N5,016.67), Zamfara (N5,000.00) and Abuja (N4,900.00). The states with the lowest average price were Ondo (N3,795.83), Nasarawa (N3,800.00) and Edo (N3,837.14)1.

Cooking gas, also known as Liquefied Petroleum Gas (LPG), is a popular and convenient source of energy for many Nigerian households.

It is cheaper, cleaner and more efficient than other traditional methods of cooking such as firewood, charcoal or kerosene2. Cooking gas is sold in different sizes of cylinders depending on the customer’s preference and budget. The common sizes are 2kg, 3kg, 4kg, 5kg, 6kg, 10kg and 12.5kg2.

According to a recent gas consumption study by Betaprices Research Team, one kg of cooking gas lasts for about 7.5 hours on average.

This means that a 5kg cylinder of cooking gas can last for about 37.5 hours or more depending on the usage. The current average price of cooking gas per kg in Nigeria is N850, which means that a 5kg cylinder costs about N4,250 on average.

The price of cooking gas in Nigeria is influenced by various factors such as the exchange rate of the naira to the dollar, the supply and demand of LPG in the domestic and international markets, the cost of transportation and distribution, the taxes and levies imposed by the government and the profit margin of the retailers.

The price also varies from state to state depending on the availability and accessibility of LPG depots and filling stations.

The NBS report on cooking gas price is part of its regular data collection and analysis on various aspects of the Nigerian economy.

The NBS is the statutory agency responsible for producing reliable and timely statistical information for planning and policy making in Nigeria.

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