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Tag: Cooking Gas

  • Don’t blame us for surge in price of cooking gas – NLNG

    Don’t blame us for surge in price of cooking gas – NLNG

    The Nigeria Liquefied Natural Gas Limited (NLNG), says the company has not increase the price of Liquefied Petroleum Gas (LPG).

    Mr Andy Odeh, General Manager, External Relations and Sustainable Development, NLNG, dismissed the alleged report of the increase in a statement issued in Port Harcourt on Wednesday.

    He said the company cannot be blamed for any current surge especially as NLNG has so far delivered over 380,000 metric tonnes of LPG to the domestic market.

    He said “NLNG has noted media reports insinuating that a price hike by the company is responsible for the surge in the domestic LPG, commonly known as cooking gas.

    “The reports insinuated a price hike by the company and predicted that scarcity looms as a consequence.

    “NLNG dismisses these media reports as speculative and indicative of a fundamental misunderstanding of Nigeria’s intricate market dynamics.”

    Odeh said the company has grown the nation’s domestic LPG market volume from 50,000 metric tonnes in 2007 to over 1.3 million metric tonnes of both domestic and imported LPG in 2023.

    “NLNG currently delivers over 450,000 metric tonnes per annum of Butane – the main product in cooking gas – and has embarked on domestic propane supply to further grow the market.

    “The company has committed its entire Butane and Propane production to the domestic market from 2023, accounting for approximately 40 per cent of the total market volume.

    “Since the beginning of the year, NLNG has delivered over 380,000 metric tonnes of LPG using the company’s dedicated LPG vessel,” he added.

    The NLNG general manager said the company remained committed to delivering domestic LPG to locations close to the market.

    He said diversifying delivery points, starting with Lagos in 2023, would ensure competition among terminal owners resulting to reduction in consumer supply chain costs.

    According to him, the company was making efforts to reach terminals in Warri and Calabar as soon as challenges limiting safe delivery of gas to other locations are achieved.

    “The domestic LPG market like any other is subject to dynamic market forces and various external factors.

    “Factors like changes in exchange rates, and escalating price benchmarks mirroring crude oil prices, and the Panama Canal drought-induced vessel scarcity impacted transport costs especially for imported LPG.

    “These factors have had a significant effect on energy prices in recent times and could undoubtedly be some of the reasons for recent price hikes witnessed in the domestic market,” he explained.

    Odeh said that NLNG was fully focused towards ensuring the reliable supply of LPG production to the domestic market at prices that are reflective of the market.

  • Cooking gas prices fluctuate across Nigeria regions

    Cooking gas prices fluctuate across Nigeria regions

    The National Bureau of Statistics (NBS) has reported that the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) witnessed a month-on-month increase of 1.81 per cent.

    In September 2023, the price rose to N4,189.96 from N4,115.32 in August 2023. However, on a year-on-year basis, there was a decrease of 6.36 per cent compared to September 2022 when the price was N4,474.48.

    The report also noted regional variations in gas prices, with Kwara state recording the highest average price for a 5kg cylinder refill at N4,866.60, followed by Benue state at N4,789.26 and Adamawa state at N4,785.71.

    In contrast, parts of southern Nigeria had lower prices, with Ondo state having the lowest at N3,364.62, followed by Ekiti and Edo states at N3,450.06 and N3,626.17, respectively.

    An analysis by zone indicated that the North-Central region had the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas, at N4,555.95, followed by the North-West at N4,394.40, while the South-West recorded the lowest price at N3,809.22.

    Additionally, the NBS report noted that the average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas increased by 0.58 per cent on a month-on-month basis, rising from N9,194.41 in August 2023 to N9,247.40 in September 2023. On a year-on-year basis, this represented a 6.65 per cent decrease from N9,906.44 in September 2022.

    Cross River recorded the highest average retail price for the refilling of a 12.5kg cylinder of Liquefied Petroleum Gas at N10,203.13, followed by Ogun at N9,967.11 and Nasarawa at N9,950.15.

    Conversely, the lowest average price was recorded in Adamawa at N7,604.29, followed by Borno and Gombe at N8,113.69 and N8,188.75, respectively.

    Analyzing the data by zone, the South-South region recorded the highest average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas at N9,613.55, followed by the South-East at N9,393.69, while the North-East had the lowest price at N8,683.62.

  • How price of cooking gas is skyrocketing in Nigeria

    How price of cooking gas is skyrocketing in Nigeria

    The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,072.87 recorded in July to N4,115.32 in August 2023.

    This is contained in the Bureau’s “Cooking Gas Price Watch’’ for August 2023 released on Monday in Abuja.

    The report said the August 2023 price represented a 1.04 per cent increase, compared to what was obtained in July 2023.

    However, the average price of 5kg of cooking gas decreased on a year-on-year basis by 7.66 per cent from N4,456 recorded in August 2022 to N4,115.32 in August 2023.

    On state profile analysis, the report showed that Kwara recorded the highest average price at N4,816.67 for 5kg cooking gas, followed by Benue at N4,766.67, and Zamfara at N4,756.25.

    It said on the other hand, Ondo recorded the lowest price at N3,299.29, followed by Ekiti and Nasarawa at N3,330.00 and N3,533.33 respectively.

    Analysis by zone showed that the North-Central recorded the highest average retail price at N4,501.26, followed by the North-West at N4,340.50

    “The South-West recorded the lowest retail price at N3,3737.12,” the NBS said.

    Also, the NBS said the average retail price for 12.5kg cooking gas increased by 0.35 per cent on a month-on-month basis, from N9,162.11 in July 2023 to N9,194.41 in August 2023.

    However, the report said the average price of 12.5kg cooking gas dropped by 7.12 per cent on a year-on-year basis, from N9,899.34 recorded in August 2022 to N9,194.41 in August 2023.

    On state profile analysis, it showed that Cross River recorded the highest average price at N10,172.83 for 12.5kg cooking gas, followed by Ogun at N9,963.64 and Nasarawa at N9,883.37.

    On the other hand, the report showed that Adamawa recorded the lowest price at N7,597.92, followed by Borno at N8,103.69 and Gombe at N8,173.44.

    Analysis by zone showed that the South-South recorded the highest average retail price at N9,569.58 for 12.5kg, followed by the South-West at N9,344.17.

    The report said the North-East recorded the lowest price at N8,631.95.

    Similarly, the average retail price per litre of Kerosene rose to N1,272.40 in August 2023 on a month-on-month basis, showing an increase of 0.92 per cent, compared to N1,260.81 recorded in July 2023.

    According to its National Kerosene Price Watch for August 2023, on a year-on-year basis, the average retail price per litre of kerosene rose by 57.18 per cent from N809.52 in August 2022.

    On state profile analysis, the report showed that Adamawa recorded the highest average price at N1,745.83 per litre of kerosene in August 2023, followed by Benue at N1,468.33 and Abuja at N1,486.89.

    “On the other hand, Jigawa recorded the lowest price at N1,000 followed by Edo at N1,104.78 and Kaduna at N1,121.79.”

    The NBS said the analysis further showed that the North-East recorded the highest average retail price per litre of kerosene at N1,370.64, followed by the South-East at N1,332.49.

    It said the North-West recorded the lowest average retail price per litre of kerosene at N1,163.25.

    The report said the average retail price per gallon of kerosene paid by consumers in August 2023 was N4,351.53, indicating a 1.06 per cent increase from N4,306.07 in July 2023.

    “On a year-on-year basis, the average price per gallon of kerosene increased by 47.63 per cent from N2,947.65 recorded in August 2022.”

    On state profile analysis, it showed that Lagos recorded the highest average price at N5,350.83 per gallon of kerosene, followed by Katsina at N4,991.85 and Borno at N4,897.47.

    On the other hand, the report said Delta recorded the lowest price at N2,945.71, followed by Rivers and Oyo at N3,287.50 and N3,711.79, respectively.

    Analysis by zone showed that the North-East recorded the highest average price per gallon of Kerosene at N4,637.71, followed by the South-East at N4,590.69.

    The report said the South-South recorded the lowest average price per gallon of Kerosene at N3,727.30.

  • Marketers raise alarm over rising price of cooking gas

    Marketers raise alarm over rising price of cooking gas

    The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has raised the alarm over the rising price of liquefied petroleum gas (LPG), otherwise known as cooking gas, in the country.

    Mr Abideen Olatunbosun, National President, NALPGAM, raised the alarm during the 36th Annual General Meeting of the association held in Ibadan on Tuesday.

    Olatunbosun appealed to the Federal Government to find a lasting solution to the rising price of cooking gas in the country, stressing that if not addressed, cooking gas might become a commodity only affordable to the affluent.

    “It is very vital for me to state that continuous increase in the price of gas in recent time stands as a big challenge to LPG marketers.

    “The government needs to find ways to ensure stability of gas price as well as make gas available to common Nigerians.

    “As a country, we need to improve on our gas utilisation level and if we all adopt gas, it will save our forest and improve quality of our lifestyle and the economy will grow,” he said.

    According to Olatunbosun, the hike in the price of gas is a concern to all.

    Olatunbosun called for collaborative efforts between the government and the private sector to establish critical gas infrastructure.

    Speaking at the event, the guest speaker, Prof. Sunday Isehunwa of the Department of Petroleum Engineering, Faculty of Technology, University of Ibadan, said that LPG offered a huge promise for increased domestic gas utilisation in Nigeria.

    He said that cooking gas also served as the country’s energy transition to net-zero carbon emission by 2060.

    According to Isehunwa, there is need for increased LPG supply to meet rising demand and curtail sharp practices by some operators.

    “The Nigeria Liquefied Natural Gas (NLNG) has been the major supplier of LPG, however, additional supplies are essential through functional refineries, and adequate natural gas processing facilities.

    “Removal of difficulties in importation when necessary is also essential for additional supplies.

    “Adequate infrastructure development is highly necessary to enhance access to LPG by rural communities.

    “Accessibility will increase through increased economic empowerment of consumers and relatively low costs of products,’’ the don said.

    Also, Mr Ogbugo Ukoha of the Nigerian Midstream And Downstream Petroleum Regulatory Authority (NMDPRA), said that the recent deregulation policy would result to a reflective petroleum products pricing.

    Ukoha, who is the Executive Director, Distribution Systems, Storage and Retailing Infrastructure, NMDPRA, noted that current data had shown that the domestic gas supply had overtaken the import supply.

    He said that necessary infrastructure investment must be put in place to address challenges of gas reserve so as to achieve smooth distribution of the product.

    “Our focus is to make necessary investment in gas infrastructure to increase LPG supply so as to force its price down for Nigerians,” Ukoha said.

    The AGM featured the dissolution of the current governing council of NALPGAM, election of new national executives and the presentation of plaques.

  • How to contain rising cost of cooking gas – Retailers

    How to contain rising cost of cooking gas – Retailers

    The Liquefied Petroleum Gas Retailers (LPGAR) has advised the federal government of Nigeria on ways to contain the rising cost of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, in the country.

    TheNewsGuru.com (TNG) reports Mr Ayobami Olarinoye, Branch National Chairman of LPGAR, gave the advice in an interview on Friday against the backdrop of the incessant increase in the price of cooking gas.

    Recall President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Mr Olatunbosun Oladapo, recently disclosed the price of LPG has increased at terminals.

    This was a result of a sudden increment from N9 million to N10 million per 20 metric tons to N14 million per 20 metric tons.

    According to Olarinoye, LPG price has recorded more 30 per cent increment in the last three weeks and is likely to continue.

    He attributed the development to off-takers and depot owners’ continuance to make upward review of the price almost on daily basis.

    He said some  LPGAR members had run out of stock because they could not restock their outlets as a result of the sharp increases.

    The development, Olarinoye added, had brought untold hardship to Nigerians and due to the recent removal of subsidy

    “We are appealing to the Federal Government to provide incentives to the LPG investors to make the price affordable.

    “Similarly, our union believes that the incessant rise in LPG price would be contained if more storage facilities are built by the major marketers and off-takers.

    “We equally think that both states and federal governments should equally intervene in the way of building depots and maintaining the existing ones built by federal government,” he said.

    The LPGAR chairman said that if this is done it would equally provide a leadway for non-major-marker off-takers to use the depots devoid of ‘commercial’ encumbrance.

    He also appealed to the Nigerian Liquified Natural Gas (NLNG) to increase its production capacity to meet the rising demand of LPG.

    “We believe that if NLNG transacts with their local LPG marketers in local currency that it would go a long way in reducing and of course stabilise the price.

    “Already, the poor are going back to the traditional cooking energies which are detrimental to their health and the ecosystem,” Olarinoye explained.

    Similarly, the NALPGAM President called on the Minister of State Gas Resources and other government agencies to audit the volume of cooking gas supplied to the domestic market by NLNG.

    He also called on the government to determine the rate and quantity at which it is possibly supplied.

    Olatunbosun noted that Nigeria’s consumption of cooking gas had dropped to around 700,000 metric tons per annum in the last year.

    This, according to him, it’s significantly lower than other countries such as the Republic of Benin which consumes more cooking gas than Nigeria.

  • Why 12.5kg cooking gas may hit N18,000 in December – Marketers

    Why 12.5kg cooking gas may hit N18,000 in December – Marketers

    Gas retailers have warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.

    The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, told The PUNCH on Sunday, that the price of Liquefied Petroleum Gas also known as cooking gas has “gone astronomically high at terminals as a result of a sudden increment from between N9-N10m per 20 metric tons to N14m per 20 metric tons.

    “There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, price could reach as high as N18m per metric tons by December. This means that a 12.5kg could go as high as N18,000.”

    According to him, terminal owners were “hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masses.”

    Olatunbosun said there was no justification for the increment, as the Nigerian Liquefied Natural Gas Limited still supplied the market.

    He said, “NNPCL currently takes 59 per cent of the gas produced by NLNG, although NLNG has also increased its price from N6m to N8m. Now, because NLNG has increased price, NNPCL and terminal owners have increased price to N14m.

    “The increase in price that would take effect is not the fault of retailers. It is the fault of NLNG and terminal owners. Even NNPCL is hiding under the guise that they are now privatised to increase prices. As of last week, 1kg was N800 at the terminal, now it is N1,200, and could reach N1,500 by December if care is not taken.”

    He added, “Now, the ordinary man would not be able to buy gas. How many minimum wage earners can afford gas now? Everyone is turning to firewood and charcoal. The surprising thing was that they visited President Tinubu last week, and promised to work together with his administration to make life better. Now they have come back and started doing something else. Where are all the palliatives and busses they promised to donate? We have not seen anything.”

    The PUNCH had reported an intended hike in cooking gas prices in August. Prices had since shot up, with 12.5kg cylinder of cooking gas going as high as high as N10,000.

    Although gas terminal owners did not have a visible association, spokespersons for NavGas, Friday Agwu, and Nipco Plc’s Askay Kumar, blamed the hike on forex and the international market.

    “No one is selling at N1,200/kg. I have not heard such high price yet,” Kumar told The PUNCH via a telephone conversation on Sunday. He however declined to respond when asked how much the landing cost was.

    Friday blamed the price on forex and raise in price of crude oil at the international market.

    “Flat price increase and forex challenges, and LPG responding to crude price increase at the international market,” he said via a whatssap message to The PUNCH.

    Source: The Punch

  • Why price of cooking gas may surge soon

    Why price of cooking gas may surge soon

    The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has alluded to the reason why the price of cooking gas may surge soon.

    NALPGAM disclosed that the hike in the foreign exchange rate and activities in the international market may result in an increase in the price of cooking gas.

    Mr Olatunbosun Oladapo, the President of the association, who made the disclosure an interview on Thursday in Lagos, noted that a gas terminal operator sent out an official notification of the changes in price, attributing the increase to a significant hike in forex rate and scarcity of same.

    He cited rising international prices, high tax rates, prices of vessels, forex scarcity, and naira devaluation as some of the reasons for the price review.

    “It is starting next week because international prices have gone up. The prices of vessels have gone up and taxes are high.

    “Consumers, middlemen, and retailers are feeling the impact because business is now on the low side,” he said.

    Olatunbosun, who described the imminent price increment as unfortunate, said: “The situation is very unfortunate because prices are going higher.

    “The government should come in and alleviate the suffering of the masses by providing palliatives, reducing taxes and levies.

    “You can imagine that for every 1kg of gas priced at N700, tax would take way N3.50. How much is left in such a business?”

    Olatunbosun urged the government to tax profit and not products because consumers were not buying gas anymore.

    He also argued that local taxes are worsening the situation, adding that marketers, who had the opportunity to buy products locally, to fix prices with “consumers’ sympathy” in mind.

    Recall that the National Bureau of Statistics (NBS) had said the average retail price for refilling a 5kg cylinder of cooking gas decreased by 6.71 per cent month-on-month from N4,360.69 recorded in May to N4,068.26 in June.

    On a year-on-year basis, it decreased by 3.56 per cent from N4,218.38 in June 2022.

    On state profile analysis, Kwara recorded the highest average price for refilling a 5kg cylinder with N4,750.00, followed by Niger with N4,691.16, and Zamfara with N4,683.33.

    On the other hand, Ondo recorded the lowest price with N3,287.86, followed by Ekiti and Nasarawa with N3,288.46 and N3,364.62, respectively.

  • Average price of 5kg cooking gas stands at N4,610.48 in March

    Average price of 5kg cooking gas stands at N4,610.48 in March

    The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,600.57 recorded in February to N4,610.48 in March.

    This is contained in the Bureau’s “Cooking Gas Price Watch’’ for March 2023 released on Monday in Abuja.

    The report said the March 2023 price represented a 0.22 per cent increase, compared to what was obtained in February 2023.

    It said on a year-on-year basis, the increase was 22.03 per cent from N3,778.30 recorded in March 2022.

    On state profile analysis, the report showed that Kwara recorded the highest average price of N4,962.87 for 5kg cooking gas, followed by Abuja at N4,940.00, and Adamawa at N4,915.00.

    It said on the other hand, Rivers recorded the lowest price at N4,204.45, followed by Abia and Anambra at N4,220.15 and N4,232.75, respectively.

    Analysis by zone showed that the North-Central recorded the highest average retail price of N4,872.20, followed by the North-West at N4,651.93.

    “The South-East recorded the lowest average retail price at N4,441.55,” the NBS said.

    The report said the average retail price for refilling a 12.5kg cooking gas rose by 0.09 per cent on a month-on-month basis from N10,253.39 in February 2023 to N10,262.56 in March 2023.

    “On a year-on-year basis, this rose by 34.72 per cent from N7,617.71 recorded in March 2022 to N10,262.56 in March 2023.”

    State profile analysis showed that Jigawa recorded the highest average retail price of N11,687.00 for 12.5kg cooking gas, followed by Akwa Ibom at N10,880.20 and Cross River at N10,810.65.

    On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Ebonyi at N9,500.00, followed by Yobe and Gombe with N9,600.00 and N9,766.67, respectively.

    Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cooking gas at N10,507.72, followed by the
    North-West at N10,435.35.

    The report said the North-East recorded the lowest price of refining 12.5kg cooking gas at N9,808.50.

     

    However, the average retail price per litre of kerosene dropped to N1,142.46 in March 2023 on a month-on-month basis, showing a decline of 2.68 per cent, compared to N1,173.89 recorded in February 2023.

    According to its National Kerosene Price Watch for March 2023, on a year-on-year basis, the average retail price per litre of kerosene rose by 102.37 per cent from N564.55 in March 2022.

    On state profile analysis, the report showed the highest average price per litre of kerosene in March 2023 was recorded in Adamawa at N1,595.24, followed by Abuja at N1,368.52 and Bauchi at N1,314.58.

    “On the other hand, the lowest price was recorded in Jigawa at N916.67, followed by Kaduna at N955.00 and Edo at N957.14.”

    The NBS said the analysis further showed that the North-East recorded the highest average retail price per litre of Kerosene at N1,256.59, followed by the South-East at N1,248.68.

    It said the North-West recorded the lowest average retail price per litre of kerosene at N981.47.

    The report said the average retail price per gallon of Kerosene paid by consumers in March 2023 was N4,105.25, indicating a 4.56 per cent increase from N3,926.23 recorded in February 2023.

    “On a year-on-year basis, the average price per gallon of kerosene increased by 104.07 per cent from N2,011.70 recorded in March 2022.

  • Food, cooking gas, kerosene prices continue to soar in Nigeria

    Food, cooking gas, kerosene prices continue to soar in Nigeria

    The National Bureau of Statistics (NBS) has disclosed that the prices of selected food items increased in December 2022.

    This is according to the NBS Selected Food Prices Watch Report for December 2022 released in Abuja on Friday.

    The report said that the average price of 1kg beef boneless on a year-on-year basis, increased by 28.75 per cent from N1,846.39 recorded in December 2021 to N2,377.29 in December 2022.

    “While on a month-on-month basis, 1kg beef boneless increased by 1.70 per cent from N2,337.46 recorded in November 2022. ”

    It showed the average price of 1kg rice (local, sold loose) increased on a year-on-year basis by 19.21 per cent from N424.62 in December 2021 to N506.17 in December 2022.

    “On a month-on-month basis, the average price of this item increased by 1.07 per cent from N487.47 recorded in November 2022. ”

    The report said the average price of 1kg of tomato on a year-on-year basis rose by 28.40 per cent from N357.03 in December 2021 to N458.42 in December 2022.

    “Also, on a month-on-month basis, 1 kg of tomato increased by 0.72 per cent from N455.13 recorded in November 2022. ”

    The report showed that the average price of 1kg brown beans (sold loose) rose by 18.45 per cent on a year-on-year basis from N494.83 recorded in December 2021 to N586.14 in December 2022.

    “While on a month-on-month basis, the price rose by 1.321 per cent from N578.55 recorded in November 2022.”

    The NBS said the average price of Palm oil (1 bottle) increased by 28.73 per cent from N795.57 in December 2021 to N1,024.13 in December 2022.

    ”On a month-on-month basis, the item grew by 1.74 per cent from the N 1,006.64 recorded in November 2022.”

    Also, it said the average price of Vegetable oil (1 bottle) stood at N1,161.76 in December 2022, showing an increase of 29.60 per cent from N896.39 recorded in December 2021.

    “On a month-on-month basis, it rose by 1.64 per cent from N1,142.99 recorded in November 2022.”

    The report said the average price of a yam tuber stood at N494.83 in December 2022, showing an increase of 18.45 per cent from N494.83 in December 2021.

    “On a month-on-month basis, one tuber of yam increased by 1.31 per cent from N578.55 recorded in November 2022. ”

    Similarly, it said the average price of 1kg of onion bulb rose by 25.64 per cent on a year-on-year basis from N346.96 in December 2021 to N435.93 in December 2022.

    “While on a month-on-month basis, the price rose by 2.40 per cent from N425.71 recorded in November 2022.”

    The report said at the state level, the highest average price of rice (local, sold loose) was recorded in Rivers at N655.92, while the lowest price was recorded in Jigawa at N386.01.

    It said Cross River recorded the highest average price of 1kg onion bulb at N1,013.96, while the lowest was reported in Kogi with N198.12.

    The report said Ebonyi recorded the highest average price of beans (brown, sold loose) at N901.74, while the lowest was recorded in Kebbi state at N368.56.

    Also, the report said Imo recorded the highest price of Vegetable oil (1 bottle) at N1,597.22 while Benue recorded the lowest price at N702.78.

    It said Akwa Ibom recorded the highest average price of a tuber of yam at N850.23 while Benue recorded the lowest price at N180.76.

    Analysis by zone showed that the average price of 1kg beef boneless was higher in the South-East and South-South at N2,936.49 and N2,647.59, respectively.

    “While the lowest price of the item was recorded in the North-East at N1,989.86”

    The report said the South-South recorded the highest average price of 1kg rice (local, sold loose) at N564.34 followed by the South-West at N528.36, while the lowest price was recorded in the North-West at N447.05.

    Also, it said the North-West recorded the highest average price of Palm oil (1 bottle) at N1,161.44, followed by the South-East at N1,142.67, while the North-Central recorded the lowest price at N792.69.

    Cooking gas price increased by 27% in one year – NBS

    Similarly, the NBS disclosed the average price of 5kg of cooking gas increased from N3,594.81 in December 2021 to N4,565.56 in December 2022.

    This is contained in the Bureau’s “Cooking Gas Price Watch’’ for December 2022 released on Friday in Abuja.

    The report said the December 2022 price represented a 27 per cent increase compared to what was obtained in December 2021.

    The report said on a month-on-month basis, the price rose by 0.36 per cent from N4,549.14 recorded in November 2022 to N4,565.56 in December 2022.

    On state profile analysis, the report showed that Kwara recorded the highest average price of N4,950.00 for refilling of a 5kg cooking gas, followed by Adamawa at N4,933.33, and Plateau at N4,917.50.

    It said on the other hand, Anambra recorded the lowest price at N4,182.14, followed by Abia and Rivers with N4,196.15 and N4,207.27, respectively.

    Analysis by zone showed that the North-Central recorded the highest average retail price of N4,841.07 for 5kg cooking gas, followed by the North-East at N4,593.99.

    “The South-East recorded the lowest average price at N4,386.39.for 5kg cooking gas.’’

    The NBS also said the average retail price for refilling a 12.5kg cooking gas rose by 0.67 per cent on a month-on-month basis from N10,180.88 in November 2022 to N10,248.97 in December 2022.

    “On a year-on-year basis, this rose by 39.78 per cent from N7,332.04 in December 2021.’’

    State profile analysis showed that Benue recorded the highest average retail price of N11,250.00 for 12.5kg cooking gas, followed by Cross River at N10,892.86 and Ebonyi at N10,753.57.

    On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Yobe at N9,500.00, followed by Zamfara and Gombe with N9,706.25 and N9,750.00, respectively.

    Also, the average retail price per litre of kerosene rose to N1,104.61 in December 2022 on a month-on-month basis, showing an increase of 1.94 per cent compared to N1,083.57 recorded in November 2022.

    According to its National Kerosene Price Watch for December 2022, on a year-on-year basis, the average retail price per litre of kerosene rose by 136.04 per cent from N467.97 in December 2021 to N1,104.61 in December 2022.

    Analysis by state showed that the highest average retail price per litre of kerosene was recorded in Abuja at N1,383, followed by Akwa Ibom at N1,341 and Cross River at N1,300.

    “On the other hand, the lowest price was recorded in Bayelsa at N864, followed by Jigawa at N904 and Rivers at N916.’’

    The NBS said that analysis by zones showed that the South-East recorded the highest average retail price of kerosene at N1,203 per litre, followed by the South-West at N1,177, while the North-West recorded the lowest at N1,011.

    The report showed that the average price of a gallon of kerosene was sold at N3,753 in December 2022, indicating an increase of 4.42 per cent from N3,594 in November 2022.

    “On a year-on-year basis, this increased by 137.15 per cent from N1,582.73 in December 2021.’’

    State profile analysis showed that Abia recorded the highest average retail price per gallon of kerosene at N4,546, followed by Kwara at N4,515 and Enugu at N4,426.

    It said Borno recorded the lowest price at N2,750, followed by Gombe and Bayelsa at N2,775 and N2,814, respectively.

    Analysis by the report indicated that the South-East recorded the highest average retail price per gallon of Kerosene at N4,337, followed by the North-Central at N3,967, while the North-East recorded the lowest at N3,378.

  • Price of cooking gas skyrockets by 101 per cent

    Price of cooking gas skyrockets by 101 per cent

    The average price of 5kg cooking gas increased from N4,397.68 in July to N4,456.56 in August.

    The assertion was made by the National Bureau of Statistics (NBS), in its Cooking Gas Price Watch issued on Tuesday in Abuja.

    It noted that the price in August indicated a 1.34 per cent increase on a month-on-month basis from what obtained in July.

    “On a year-on-year basis, the August 2022 price was a 101.17 per cent increase over the price of N2,215.33 paid for the same volume of gas in August 2021,’’ it stated.

    The report added that Taraba recorded the highest average price of N4,925.44, for 5kg cooking gas, followed by Adamawa where it cost N4,920, and Lagos State where it sold for N4,782.50.

    It stated also that Katsina State recorded the lowest price of N4,020 in August, followed by Ogun and Yobe at N4,057.14 and N4,078.46, respectively.

    Analysis by geopolitical zones showed that the North-Central recorded the highest average retail price of N4,615.95 for 5kg cooking gas, followed by the North-East at N4,548.03.

    The North-West recorded the lowest retail price at N4,285.51.

    The NBS reported also that the average retail price of 12.5kg cooking gas increased to 9,899.34 in August 2022 from N9,824.07 in July, representing a 0.77 per cent month-on-month increase.

    “On a year-on-year basis, the price rose by 119.26 per cent from N4,514.82 in August 2021,’’ it stated.

    The report added that the highest retail price was recorded in Ebonyi at N11,225 for 12.5kg, followed by Cross River at N10,982.14 and Delta at N10,965.42.

    The lowest average price was recorded in Katsina State at N8,150, followed by Yobe and Taraba at N8,212.63 and N8,886.30, respectively.

    Similarly, kerosene price rose to N809.52 per litre in August, showing a 2.5 per cent increase over the N789.75 for which it was sold in July.

    The report noted that on a year-on-year basis, the average retail price per litre of kerosene rose by 102.38 per cent from N400.01 recorded in August 2021

    Further analysis showed that the highest average price per litre of kerosene in August 2022 was recorded in Imo at N1083.33, followed by Ekiti at N1,026.92 and Enugu State at N1,017.74.

    The report showed that the lowest price was recorded in Nasarawa State at N625, followed by Rivers at N627.45 and Adamawa at N633.33.

    Analysis by geopolitical zones showed that the Southeast recorded the highest average retail price per litre at N953.88, followed by the Southwest with N910.85.

    “The South-South recorded the lowest average price at N749.51,’’ it stated.

    It added that the average retail price per gallon of kerosene in August was N2,947.65, showing an increase of 2.12 per cent from N2,886.41 in July 2022.

    According to the report, the August 2022 price was a 122.4 per cent increase over the price N1,325.39 paid in August 2021.

    Analysis by states showed that Abuja paid the highest price of N4,050 per gallon of kerosene in August, followed by Abia where it sold at N3,825 and Enugu State at N3,574.52.

    Zamfara recorded the lowest price at N2,280 for a gallon of kerosene followed by Lagos State and Benue where it sold at N2,526.32 and N2,566.67, respectively.

    The NBS stated that analysis by geopolitical zones showed that the Southeast recorded the highest average retail price per gallon of kerosene at N3,276.78, followed by the Southwest at N3,073.27.

    It added that the Northeast recorded the lowest average retail price at N2,687.63 per gallon.