Cooking gas prices have skyrocketed by 55.22% year-on-year, reaching N15,929.04 for refilling a 12.5-kilogram cylinder in March 2024, according to the latest report from the National Bureau of Statistics (NBS).
The NBS March Cooking Gas Price Watch revealed a 5.77% month-on-month increase from February’s average of N15,060.38.
Sokoto leads the states with the highest average retail price for refilling a 12.5kg cylinder, standing at N17,833.33, followed closely by Osun and Anambra at N17,588.46 and N17,417.65 respectively. Conversely, Katsina boasts the lowest average price at N12,400.00, followed by Kebbi and Bauchi at N13,137.50 and N14,484.25 respectively.
Regional analysis shows the South-South recording the highest average retail price at N16,859.85, closely followed by the South-East at N16,734.87. Meanwhile, the North-East boasts the lowest average price at N14,943.48.
These price increases occur against the backdrop of Nigeria’s persistently high inflation rates. Headline and food inflation rose to 33.20% and 40.01% respectively in March 2024.
Looking ahead, the NBS plans to unveil April’s inflation figures next week, providing further insight into the country’s economic landscape.
