- Lagos, Imo, Anambra worse hit
The average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas otherwise known as Cooking Gas increased by 19.75 percent on a month-on-month basis from N5, 139.25 recorded in January 2023 to N6, 154.50 in February 2024.
On a year-on-year basis, this increased by 33.78 percent from N4, 600.57 in February 2023.
On state profile analysis, Lagos recorded the highest average price for refilling a 5kg Cylinder of Cooking Gas with N6, 820.00, followed by Imo with N6, 785.71, and Anambra with N6, 750.00.
On the other hand, Yobe recorded the lowest price with N4, 912.50, followed by Kebbi and Adamawa with N5, 350.00 and N5, 385.00 respectively.
In addition, analysis by zone showed that the South East recorded the highest average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N6,616.57, followed by the South West with N6,513.30 while the North Central recorded the lowest with N5,723.02.
Also, the average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 28.33 percent on a month-on-month basis from N11, 735.72 in January 2024 to N15, 060.38 in February 2024.
On a year-on-year basis, this rose by 46.88 percent from N10, 253.39 in February 2023. On state profile analysis, Ogun State recorded the highest average retail price for the refilling of a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N16, 375.00, followed by Delta State with N16, 333.33 and Edo State with N16, 321.43.
Conversely, the lowest average price was recorded in Bauchi State with N13, 167.50, followed by Katsina State and Yobe State with N13, 562.50 and N13, 610.00 respectively.
Analysis by zone showed that the South East recorded the highest average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) with N15, 954.60, followed by the South South with N15, 943.40. In contrast, the North-East recorded the lowest price with N14, 035.88.
Generally, energy costs in Africa’s most populous nation have witnessed a spike due to the decision of the Federal Government to remove subsidies.
Data released by the National Bureau of Statistics showed that the average retail price per litre of Household Kerosene paid by consumers in February 2024 was N1, 340.94, indicating an increase of 0.86 percent compared to N1, 329.53 recorded in January 2024.
On a year-on-year basis, the average retail price per litre of the product rose by 14.23 percent from N1, 173.89 in February 2023.
On state profile analysis, the highest average price per litre in February 2024 was recorded in Kaduna with N1, 866.67, followed by Benue with N1, 769.67 and Niger with N1, 710.89.
On the other hand, the lowest price was recorded in Bayelsa with N971.00, followed by Rivers with N1, 065.67 and Kwara with N1, 070.44.
In addition, analysis by zone showed that the North Central recorded the highest average retail price per litre of Household Kerosene with N1, 486.50, followed by the North East with N1, 387.58, while the South South recorded the lowest with N1, 231.24.
The average retail price per gallon of Household Kerosene paid by consumers in February 2024 was N4, 880.02, indicating an increase of 0.19 percent from N4, 870.83 in January 2024.
On a year-on-year basis, this increased by 24.29 percent from N3, 926.23 in February 2023. On state profile analysis, Adamawa recorded the highest average retail price per gallon of Household Kerosene with N6, 092.50, followed by Bauchi with N5, 910.00 and Kano with N5, 779.50.
On the other hand, Delta recorded the lowest price with N4, 025.00, followed by Abuja and Ondo with N4, 250.00 and N4, 400.91 respectively.
Analysis by zone showed that the North-East recorded the highest average retail price per gallon of Household Kerosene with N5, 553.05, followed by the North West with N5, 072.23, while the South-East recorded the lowest with N4, 518.91.
