Millions of Nigerians are beginning to feel some relief after the price of cooking gas recorded a significant decline across several parts of the country.
The drop comes after months of rising energy costs that placed additional pressure on household budgets
Recent market checks showed that Liquefied Petroleum Gas (LPG), commonly called cooking gas, has fallen from about N2,200 per kilogramme to around N1,500/kg.
In some cities, consumers are paying even lower prices, depending on location and transportation costs.
The reduction has been welcomed by many households that previously reduced cooking gas usage or switched to alternative fuels because of high prices.
According to the President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Edu Inyang, improved collaboration among regulators, government agencies and industry stakeholders played a key role in stabilising supply.
“The consultations have yielded positive results. Product availability has improved and confidence has returned to the market, which has helped bring down prices,” Inyang said.
According to him, the latest reduction represents a decline of about 31.8 per cent, equivalent to N700 per kilogramme from the previous market peak.
Moreover, Inyang expressed optimism that prices could fall further if favourable market conditions continue.
“We expect the downward trend to continue. However, prices are influenced by a number of factors, including international market conditions, foreign exchange rates and logistics costs. If these remain favourable, consumers should continue to enjoy lower prices,” he stated.
Furthermore, he explained that efforts to remove supply challenges within the LPG value chain have started producing positive results. Increased product availability has also helped restore confidence among marketers and consumers.
In addition, NALPGAM said market liberalisation would encourage more qualified marketers to import LPG.
Retail prices now vary across different states because of transportation expenses and retailer margins. Market checks showed that consumers in Lagos, Ibadan and Abeokuta currently pay between N1,100 and N1,350 per kilogramme.
Meanwhile, residents of Benin City, Port Harcourt and Warri are paying between N1,150 and N1,400/kg. In Onitsha and Enugu, prices range from N1,200 to N1,450/kg, while Abuja consumers pay between N1,250 and N1,500/kg.
The development follows recent efforts by the Federal Government to address supply disruptions. Authorities directed regulatory and security agencies to clamp down on LPG diversion, hoarding an illegal storage to improve product availability nationwide.
Industry experts believe these measures, alongside stronger cooperation among stakeholders, have contributed to the recent improvement in supply.
The cooking gas prices in Nigeria remain subject to international oil prices, foreign exchange movements and distribution costs. However, consumers and marketers are hopeful that the current trend will continue if those factors remain favourable.
