The cooking gas market in Nigeria has seen significant fluctuations recently, particularly in January 2023. According to a report by the National Bureau of Statistics (NBS), prices for refilling cooking gas have surged in several states, including Benue, Cross River, and Ebonyi. This surge reflects broader trends in the economy, where commodity prices are rising, impacting the daily lives of Nigerians who rely on cooking gas for their households.
Despite the overall trend of rising prices, the NBS report highlights that some Nigerian states experienced a decrease or stable prices for cooking gas refills. This duality in pricing across the country underscores the complexities of the local gas market and the varying factors influencing supply and demand.
The NBS report also provides a comprehensive comparison of gas prices measured by kilograms across different states, indicating significant regional variations. This data is crucial for consumers and policymakers alike, as it offers insights into market dynamics and helps inform decisions related to energy consumption and budgeting.
Lowest Refill Prices for 5kg
- Enugu – N4,119.23
- Anambra – N4,183.14
- Rivers – N4,210
- Abia – N4,218.15
- Akwa Ibom – N4,256.25
- Sokoto – N4,281.67
- Delta – N4,301.25
- Yobe – N4,315.50
- Ogun – N4,360
- Osun – N4,395
The NBS report details that the average retail price for a 5kg gas refill rose slightly from N4,565 in December 2022 to N4,588.75 in January 2023. This represents a notable year-on-year increase of 25.46% from N3,657.57 recorded in January last year, highlighting the ongoing inflationary pressures faced by consumers.
Lowest Refill Prices for 12.5kg
- Yobe – N9,550
- Taraba – N9,845
- Gombe – N9,850
- Bauchi – N9,875
- Lagos – N9,877.50
- Borno – N9,888.57
- Jigawa – N9,900
- Zamfara – N9,957.33
- Adamawa – N9,985.71
- Nasarawa – N10,019.17
For the 12.5kg refill, the average retail price increased by 0.28% from N10,248.97 in December 2022 to N10,277.17 in January 2023. On a year-on-year basis, this reflects a dramatic rise of 38.63% compared to N7,413.25 in January 2022. These figures highlight the steep climb in energy costs that consumers are currently facing in Nigeria.
Additionally, the report indicates that refill prices for 5kg cylinders were highest in states such as Kwara, where it reached N4,962.20. Meanwhile, the prices for 12kg cylinders also saw increases in states like Benue, Cross River, and Ebonyi, reinforcing the need for consumers to stay informed about regional price variations.
Impact of Diesel Prices on the Economy
In a related report, the NBS announced that the average retail price for diesel, another crucial energy source, surged to N828.82 per litre in January 2023. This represents a staggering 187.69% increase from N288.09 per litre a year ago. Such drastic price hikes can have ripple effects throughout the economy, impacting transportation and the cost of goods.
As the energy landscape continues to evolve, consumers and businesses alike must adapt to these changes. Understanding the factors influencing gas prices and being aware of regional discrepancies can empower individuals to make informed choices about their energy consumption.
Overall, the NBS report serves as a vital resource for those navigating the complexities of Nigeria's gas and energy markets. Staying updated on pricing trends and regional differences can help consumers manage their budgets effectively amid these fluctuations.
