The National Bureau of Statistics (NBS) has reported an increase in the average price of a 5kg cylinder of cooking gas from N5,139.25 in January 2023 to N6,154.50 in February 2024.
Released in Abuja on Saturday, the NBS “Cooking Gas Price Watch” for February 2024 indicated a notable surge of 19.75% compared to January 2024.
Year-on-year analysis revealed a significant uptick of 33.78%, with the average price of a 5kg cylinder escalating from N4,600.57 in February 2023 to N6,154.50 in February 2024.
Across states, Lagos topped the list with the highest average price at N6,820.00, followed by Imo at N6,785.71 and Anambra at N6,750.00. Conversely, Yobe recorded the lowest price at N4,912.50, trailed by Kebbi and Adamawa at N5,350.00 and N5,385.00, respectively.
Regional analysis depicted the South-East with the highest average retail price at N6,616.57, closely followed by the South-West at N6,513.30. In contrast, the North-Central registered the lowest average retail price at N5,723.02.
Meanwhile, the average retail price for refilling a 12.5kg cylinder of cooking gas surged by 28.33% on a month-on-month basis, soaring from N11,735.72 in January 2024 to N15,060.38 in February 2024.
Year-on-year, there was a steep increase of 46.88%, with the average retail price escalating from N10,253.39 in February 2023 to N15,060.38 in February 2024.
Ogun led the states with the highest average retail price at N16,375.00, followed by Delta at N16,333.33 and Edo at N16,321.43. Conversely, Bauchi recorded the lowest average price at N13,167.50, followed by Katsina and Yobe at N13,562.50 and N13,610.00, respectively.
Regional analysis revealed the South-East with the highest average retail price of N15,954.60, trailed closely by the South-South at N15,943.40, while the North-East recorded the lowest price at N14,035.88.