KEY POINTS
- Cooking gas prices have fallen 39 per cent, with LPG now selling for about ₦1,100–₦1,650 per kilogramme.Daily
- LPG supply increased from 4,262MT in May to 5,040MT in June, while supply coverage doubled to 22 days.
- NLNG is urging the government to improve infrastructure and reduce multiple taxes and levies to sustain lower prices.
The price of cooking gas has dropped by 39 per cent across Nigeria, offering some relief to households following an increase in the supply of Liquefied Petroleum Gas, LPG.
Cooking gas is now selling for between ₦1,100 and ₦1,650 per kilogramme in different parts of the country, compared with significantly higher prices recorded in recent months.
In Lagos and Ibadan, consumers are paying between ₦1,100 and ₦1,350 per kilogramme, down from a peak of about ₦2,300 per kilogramme recorded in June.
The price decline has been linked to Federal Government interventions that have increased the availability of LPG in the domestic market.
According to the report, national LPG supply coverage has increased from 11 days to 22 days following government interventions aimed at improving availability.
Daily LPG supply also increased from 4,262 metric tonnes in May to 5,040 metric tonnes in June.
The increase in supply has helped ease pressure on the market, with consumers benefiting from lower prices after months of rising cooking gas costs.
The development could provide some relief for households that have increasingly faced higher energy costs and have struggled with the affordability of cooking gas.
NLNG Wants Long-Term Measures
Despite the recent price reduction, the Nigeria Liquefied Natural Gas (NLNG) has warned that sustained affordability will require coordinated action by the Federal Government, regulators and industry operators.
NLNG Managing Director, Adeleye Falade, made the call when he led a delegation from the company to meet President Bola Tinubu at the State House in Abuja.
Falade said increasing domestic LPG supply, expanding storage capacity and improving distribution infrastructure would be crucial to ensuring that the current reduction in prices is sustained.
He also called for the removal of multiple taxes, levies and regulatory charges imposed on operators across different levels of government. According to Falade, the numerous financial and regulatory obligations facing LPG operators increase their operating costs and create uncertainty within the industry.
He warned that the situation could discourage investment and undermine efforts to make cooking gas more accessible and affordable to Nigerian households.
Falade stressed that improving access to LPG remains important to Nigeria’s energy transition and the wellbeing of millions of households.
He reaffirmed NLNG’s commitment to supporting the growth of the domestic LPG market and aligning its activities with the Federal Government’s development objectives. The 39 per cent decline represents a significant reversal from the sharp increase in cooking gas prices recorded earlier in the year.
However, the latest reduction will only provide lasting relief if higher supply levels are maintained and structural challenges affecting the LPG market are addressed.
For consumers, improved domestic supply, stronger distribution networks and lower industry costs could help prevent another sharp increase in cooking gas prices.
