By Akinsuroju Olubunmi
Cooking gas prices surge: NBS reports 8.70% yearly increase
The National Bureau of Statistics (NBS) has revealed that the average price of a 5kg cooking gas has risen by 8.70% over the past year. According to the NBS’ “Cooking Gas Price Watch” report released on Monday, January 22, the cost increased from N4,565.56 in December 2022 to N4,962.87 in December 2023.
Comparing figures from November, there was a 2.79% surge in December 2023 in the cooking gas prices. State profile analysis showcased Adamawa with the highest average price at N5,725.33, followed by Jigawa and Lagos. Conversely, Ebonyi recorded the lowest price at N4,071.43.
At the zonal level, the North-East reported the highest average retail price for 5 kg of cooking gas, while the South-East had the lowest. Additionally, the NBS noted a 3.18% month-on-month increase in the average retail price for refilling a 12.5kg cooking gas from N11,155.15 in November 2023 to N11,510.16 in December 2023.
On a yearly basis, the average retail price for a 12.5kg cooking gas rose by 12.31%. Cross River recorded the highest average retail price, while Ebonyi had the lowest.