Cooking gas prices in Nigeria have climbed to N1,500 per kilogram due to international conflict and limited local supply, causing a significant decline in consumer purchasing power.
The retail price of Liquefied Petroleum Gas (LPG) in Nigeria has surged by 14.3 percent to N1,500 per kilogram, a sharp increase from last month’s N1,300, driven largely by volatility in the Middle East and domestic supply constraints. National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Mr. Inyang Edu, confirmed that ex-depot prices jumped to N21 million per 20 metric tonnes, noting that “the purchasing power of Nigerians dropped drastically due to the hike in price.” While the Dangote refinery offers a lower rate of approximately N16 million to off-takers, Edu highlighted that “the supply from Dangote is limited” because the facility is only receiving a fraction of its required crude oil allocations. Consequently, dealers are reporting poor sales as consumers increasingly “resort to other sources of energy” to cope with the rising costs.
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