Average price of cooking gas spiked by 7.10 percent in March – NBS

The National Bureau of Statistics (NBS) reported that the average price of a 5kg cooking gas increased from N6,154.50 in February 2024 to N6,591.62 in March 2024. This represents a 7.10% rise compared to February 2024 and a 42.97% increase compared to March 2023.

Among the states, Kano had the highest average price at N7,609.00, followed by Ogun at N7,363.64, and Akwa Ibom at N7,162.50. Conversely, Adamawa had the lowest price at N5,312.50, followed by Taraba and Zamfara at N5,375.00 and N5,550.00, respectively.

By zone, the South-South recorded the highest average retail price at N7,003.08, followed by the South-West at N6,723.22, while the North-East had the lowest average retail price at N6,221.30.

Additionally, the average retail price for refilling a 12.5kg cooking gas increased by 5.77% month-on-month, from N15,060.38 in February 2024 to N15,929.04 in March 2024. On a year-on-year basis, there was a 55.22% increase from N10,262.56 in March 2023 to N15,929.04 in March 2024.

Sokoto had the highest average retail price for a 12.5kg cooking gas at N17,833.33, followed by Osun at N17,588.46 and Anambra at N17,417.65. Conversely, Katsina had the lowest average price at N12,400.00, followed by Kebbi and Bauchi at N13,137.50 and N14,484.25, respectively.

Regionally, the South-South had the highest average retail price at N16,859.85, followed by the South-East at N16,734.87, with the North-East recording the lowest price at N14,943.48.

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