The retail price of refilling a 12.5kg cylinder of Liquefied Petroleum Gas (LPG), commonly referred to as cooking gas, has dropped by 13.3%, offering significant relief to consumers.
Current Prices
- January 2025: ₦16,250
- December 2024: ₦18,750
This represents a ₦2,500 decrease in the cost of refilling a standard cylinder. Similarly, the price per kilogram of LPG has reduced by 13.3%, falling from ₦1,500 to ₦1,300 on average.
Regional Price Variations
A survey conducted across gas plants revealed:
- Lowest Price: ₦1,250 per kg
- Highest Price: ₦1,400 per kg
Insights from Industry Leaders
Olatunbosun Oladapo, National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), highlighted the factors behind the price reduction:
- The widespread use of LPG is being promoted by ensuring affordability.
- Southwest Region Prices: Gas plants are selling between ₦1,250 and ₦1,300 per kg, with the highest justified price being ₦1,300.
He also addressed complaints about plants selling at ₦1,400 per kg, labeling such practices as exploitative:
“Some operators make life difficult for Nigerians by extorting them. However, competition and daily price awareness will help reduce this.”
Local Production Stabilizes Prices
Oladapo noted that over 70% of Nigeria’s LPG consumption is locally produced, reducing reliance on imports. This local production has:
- Stabilized the market.
- Ensured adequate supply to meet demand.
Future Outlook
The combination of local production and open-market competition is expected to sustain price reductions and further enhance affordability. Oladapo expressed optimism that increasing awareness and regulatory measures will help curb extortion and promote fair pricing.
This price drop provides welcome relief for Nigerians, particularly in light of rising energy costs globally.
