Cooking Gas Price Drops By 13.3%

The price of cooking gas in Nigeria dropped by 13.3% in January 2025 down from the price level of the previous month.

The typical cost to refill a 12.5kg cylinder of Liquefied Petroleum Gas (LPG) fell from ₦18,750 in December 2024 to ₦16,250 in January 2025.

This decrease is also reflected in the price of 1kg of gas, which dropped from ₦1,500 to ₦1,300.

A survey of several accredited gas plants showed that some locations were offering 1kg of gas for ₦1,250, while others sold it for ₦1,400. Despite these variations, the overall trend shows a reduction in gas prices.

Olatunbosun Oladapo, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), commented on the situation. He emphasized that the association has been working to make LPG more affordable for Nigerians. He stated, “As an association, we are promoting the widespread use of LPG for cooking, and the primary way to achieve this is by making it affordable.”

Oladapo also explained that the price fluctuations are influenced by government policies, demand, and supply. He added, “Currently, gas plants are fully stocked, and supply is steady, while demand has not surpassed supply in Nigeria.”

He pointed out that over 70% of Nigeria’s gas consumption is produced locally, which has helped stabilize prices. “We are not solely relying on imported gas; the effect of local production has helped stabilize the price,” Oladapo explained. He suggested that if local production continues to increase, the national price would be less affected by global price changes.

In response to gas plants charging ₦1,400 per kg, Oladapo criticized them for exploiting consumers. He said, “There are plants selling at ₦1,210 and ₦1,250, with the highest being ₦1,300. Anyone selling at ₦1,400 is extorting innocent Nigerians.” He further added that the association publishes daily prices to raise awareness and prevent such exploitation. Oladapo concluded, “The beauty of the industry is that it is an open market, and competition will help drive prices down.”
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