IN OCTOBER, the average retail price of cooking gas in Nigeria rose sharply, primarily due to industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the Dangote Refinery and ongoing maintenance at the Nigeria LNG Train 4 facility, says the National Bureau of Statistics (NBS).
According to the NBS, the supply chain disruptions due to the industrial action contributed to a significant month-on-month price increase which result in the average price for refilling a 5kg cylinder of cooking gas to rise by 26.36 per cent – from N6,395.82 in September to N8,081.75 in October.
NBS noted that year-on-year, this represents a 16.86 per cent increase from N6,915.69 in October 2023.
A state-by-state analysis showed Borno State recorded the highest average price for 5kg at N8,376.44, followed by Yobe at N8,357.98 and Ondo at N8,340.30.
The lowest price was recorded in Bauchi State at N7,051.54. Geopolitically, the North-West zone had the highest average price at N8,188.55, while the South-South zone recorded the lowest at N7,956.61.
The price surge also affected larger cylinder sizes. The average retail price for a 12.5kg cylinder increased by 15.36 per cent month-on-month, from N16,155.09 in September to N18,636.77 in October. Year-on-year, this is an 11.37 per cent rise.
For this size, Borno State again recorded the highest average price (N19,391.57), while Ebonyi State recorded the lowest (N17,610.88).
The North-East zone had the highest zonal average price of N18,953.86, with the South-South zone being the lowest at N18,207.65.
The Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, confirmed the industrial action and maintenance activities as key factors behind the price surge.
