NBS report says Nigerians paid more for cooking gas in February 2024

The National Bureau of Statistics (NBS) says Nigerians paid 19.75 per cent more for cooking gas in February 2024 than what they paid for the product in January 2024.

The Bureau stated that the average price of 5kg of cooking gas rose from N5,139.25 recorded in January, 2023 to N6,154.50 in February, 2024.

NBS made this known in its “Cooking Gas Price Watch’’ for February 2024, released on Saturday in Abuja.

The report said the February price represented a 19.75 per cent increase, compared to what was obtained in January, 2024.

The bureau said the average price of 5kg of cooking gas rose on a year-on-year basis by 33.78 per cent from N4,600.57 recorded in February 2023 to N6,154.50 in February, 2024.

On state profile analysis, the report revealed that Lagos recorded the highest average price at N6,820.00, followed by Imo at N6,785.71, and Anambra at N6,750.00.

It said on the other hand, Yobe recorded the lowest price at N4,912.50, followed by Kebbi and Adamawa at N5,350.00 and N5,385.00, respectively.

Analysis by zone indicated that the South-East recorded the highest average retail price at N6, 616.57 for 5kg cooking gas, followed by the South-West at N6, 513.30.

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“The North-Central recorded the lowest average retail price at N5,723.02,” the NBS said.

Also, the NBS said the average retail price for refilling a 12.5kg cooking gas increased by 28.33 per cent on a month-on-month basis from N11, 735.72 in January, 2024 to N15, 060.38 in February 2024.

The report said the average retail price for 12.5kg cooking gas rose by 46.88 per cent on a year-on-year basis from N10, 253.39 recorded in February 2023 to N15, 060.38 in February 2024.

State profile analysis showed that Ogun recorded the highest average retail price of N16,375.00, followed by Delta at N16,333.33 and Edo at N16,321.43.

On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Bauchi at N13, 167.50, followed by Katsina and Yobe at N13, 562.50 and N13,610.00, respectively.

Analysis by zone showed that the South-East recorded the highest average retail price of N15, 954.60, followed by the South-South at N15, 943.40.

The report said the North-East recorded the lowest price at N14,035.88.

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