Cooking Gas Price Surges By 119% As 3 States Top Retail Price Chart

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Nigerians who use cooking gas for their everyday meals may have to adapt to the continuous hike in the commodity as it has recorded a frightening increase by 119% from N4,514.82 in August 2021 to N9,899.34 in August 2022.

Residents of Ebonyi, Cross rivers and Delta paid more during the period as gas prices had the highest figures in the states.

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Data from the National Bureau of Statistics (NBS) revealed that a 12kg gas in Ebonyi had an average retail price of N11,225.00. This was closely followed by Cross River where the same kg weight sold for N10,982.14. Delta followed in third position with the same weight of gas selling for N10,965.42.

Katsina – N8,150.00, Yobe – N8,212.63 and Taraba – N8,886.30 had the lowest gas prices in the country.

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Different opinions have been thrown up by marketers and regulators alike on the reason for the hike in gas prices, a development which has further created confusion as Nigerians who are already dealing with the high food prices now have to contend with the rising cost of cooking gas.

While answering questions before the joint committee of the House of Representatives investigating the prices of diesel and gas in July, Oladapo Olatunbosun, the president of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) blamed ‘portfolio investors’ for the high cost of cooking gas.

While absolving the FG, Olatunbosun, noted that middlemen were to be blamed for the price hike adding that the Nigerian Liquefied Natural Gas Limited, NLNG, had done its part by injecting sufficient gas into the market.

The NLNG on the other hand argued that it was not able to sufficiently meet the demands of the product as it was just able to supply about half of the local needs of Nigerians.

The NLNG also blamed the global oil crisis as it agreed that a great part of the gas was imported.

Analysis by region from the NBS report also showed that the region that recorded the highest average retail price for refilling a 5kg cylinder of cooking gas was the north-central region with N4,615.95, the second highest region was North-East with N4,548.03, while the North-West recorded the lowest with N4,285.51.

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