The National Bureau of Statistics (NBS) has released its “Cooking Gas Price Watch” for January 2024, revealing an increase in the average price of 5kg of cooking gas.
The report states that the average price rose from N4,962.87 in December 2023 to N5,139.25 in January 2024, marking a 3.55% increase.
On a year-on-year basis, the average price of 5kg of cooking gas increased by 12% from N4,588.75 in January 2023 to N5,139.25 in January 2024.
State-wise analysis indicates that Nasarawa recorded the highest average price at N5,790.00, followed by Jigawa at N5,681.82, and Gombe at N5,660.00. Conversely, Kaduna recorded the lowest price at N4,150.00, followed by Ogun and Osun at N4,751.04 and N4,763.53, respectively.
In terms of zones, the North-East recorded the highest average retail price for 5kg cooking gas at N5,296.32, followed by the North-Central at N5,240.36. The South-West recorded the lowest average retail price at N4,805.05.
The report also highlighted a 1.96% month-on-month increase in the average retail price for refilling a 12.5kg cooking gas, from N11,510.16 in December 2023 to N11,735.72 in January 2024. On a year-on-year basis, the average retail price for 12.5kg cooking gas rose by 14.19%, from N10,277.17 in January 2023 to N11,735.72 in January 2024.
State profile analysis for 12.5kg cooking gas revealed Cross River with the highest average retail price at N13,040.00, followed by Jigawa at N12,875.00, and Zamfara at N12,725.00. Conversely, Kaduna recorded the lowest average price at N9,699.50, followed by Kwara and Niger at N10,000.00 and N10,400.00, respectively.
Analysis by zones showed the South-South with the highest average retail price of N12,602.47, followed by the North-West at N12,224.93. The South-West recorded the lowest price at N11,189.02.
