NBS Says Average Price of 5kg Cooking Gas Increases By 8.70% in One Year

National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas rose by 8.70 percent in one year.

This is according to the NBS’ report, titled: “Cooking Gas Price Watch”, released on Monday, January 22, in which it noted that the average price of 5kg of cooking gas increased on a year-on-year basis by 8.70 percent from N4, 565.56 recorded in December 2022 to N4, 962.87 in December 2023.

When compared to the results from November, this indicated a 2.79 percent increase in December 2023.

According to NBS: “On state profile analysis, the report showed that Adamawa recorded the highest average price at N5,725.33 for 5kg cooking gas, followed by Jigawa at N5,686.88, and Lagos at N5,671.05.

“On the other hand, Ebonyi recorded the lowest price at N4, 071.43, followed by Imo and Abia at N4, 088.24 and N4, 155.88, respectively.”

At the zonal level, the North-East reported the highest average retail price for 5 kg of cooking gas at N5, 256.61, followed by the North-West at N5, 144.50.

At N4, 155.59, the south-east region had the lowest average retail price.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 3.18 percent on a month-on-month basis from N11,155.15 in November 2023 to N11,510.16 in December 2023.

It added: “On a year-on-year basis, the average retail price for 12.5kg cooking gas rose by 12.31 percent from N10, 248.97 recorded in December 2022 to N11, 510.16 in December 2023.”

Meanwhile, state profile analysis showed that Cross River recorded the highest average retail price of N13, 572.22 for 12.5kg cooking gas, followed by Edo at N13, 265.63 and Delta at N13, 041.67.

Conversely, Ebonyi had the lowest average price of N10, 142.86 for 12.5 kg of cooking gas, followed by Imo and Anambra with N10, 150.90 and N10, 264.29, respectively.

The south-south had the highest average retail price for 12.5 kg of cooking gas at N12, 700.14 at the zonal level, followed by the North-Central at N11, 585.89. At N10, 632.14, the South-East region recorded the lowest price.