Price of 12.5kg of Liquefied Natural Gas or cooking gas has increased to N12,500 as Nigeria celebrates her 63rd Independence anniversary.
A market survey has revealed that gas retailers had jerked up prices of 12.5kg from N10,000 reported towards the end of last month, to around N12,500 in Lagos.
According to the National Bureau of Statistics (NBS) , the average retail price for 12.5kg cooking gas increased by 0.35% on a month-on-month basis, from N9,162.11 in July 2023 to N9,194.41 in August 2023.
Similarly, kerosene’s average retail price per litre rose to N1,272.40 in August 2023 on a month-on-month basis, showing an increase of 0.92%, compared to N1,260.81 recorded in July 2023.
According to its National Kerosene Price Watch for August 2023, the State-profile analysis 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 President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, had warned that the price of 12.5kg cooking gas could hit as high as N18,000 by December if the Federal Government did not checkmate the activities of the terminal owners.
According to him, gas retailers still buy 20 metric tons of gas for N14m at the depot.
However, despite the warning, Olatunbosun stated on Monday, that the government was yet to wade into the crisis
