The National Bureau of Statistics (NBS) has provided insights into the recent pricing trends of cooking gas and kerosene in Nigeria. Let’s delve into the details.
The average cost of a 5kg cooking gas experienced an increase, moving from N4,072.87 in July to N4,115.32 in August 2023. This rise translates to a 1.04% hike from July 2023. Conversely, a year-on-year comparison saw a decline of 7.66% from N4,456 in August 2022.
Differing prices across states became evident. Kwara led the list at N4,816.67 for a 5kg cooking gas. Following closely were Benue and Zamfara. However, states like Ondo, Ekiti, and Nasarawa offered the most affordable rates.
The 12.5kg cooking gas saw a marginal monthly price ascent of 0.35%. Yearly analysis, however, marked a decrease of 7.12%. Cross River, Ogun, and Nasarawa showcased the highest prices, while Adamawa, Borno, and Gombe presented the lowest.
For Kerosene in August 2023, the retail price per litre rose to N1,272.40, marking a 0.92% growth from July. Annually, there was a notable jump of 57.18%. Adamawa, Benue, and Abuja emerged as the priciest, while Jigawa, Edo, and Kaduna remained economical.
August 2023’s average gallon price stood at N4,351.53, a 1.06% upsurge from July. When viewed year-on-year, the increase is a staggering 47.63%. Lagos, Katsina, and Borno stood at the higher price spectrum, whereas Delta, Rivers, and Oyo gravitated lower.
The intricate pricing landscape of cooking gas and kerosene across Nigeria’s states and zones offers both challenges and opportunities. Staying abreast with such trends is paramount for consumers and market stakeholders alike.
