Consumers in a Queue to Purchase Cooking Gas in Lagos

NBS reports Cooking Gas price records 0.21percent October 2022

*The National Bureau of Statistics report indicates the average retail price of 12.5kg Cooking Gas for consumers increased from N9,906.44K September to N10,050.53K October 2022

Isola Moses | ConsumerConnect

The National Bureau of Statistics (NBS) has said the average price of 5kg Liquefied Natural Gas (LPG, otherwise known as Cooking Gas increased from N4,474.48 in September to N4,483.75 in October, representing a 0.21% rise.

The NBS disclosed this development in its ‘Cooking Gas Price Watch’ for October 2022, which the regulatory agency released Monday, November 21, 2022, in Abuja, FCT.

The agency said on a year-on-year basis, the increase was 70.62 percent from N2,627.94 in October 2021 to N4,483.75 October 2022.

In regard to state profile analysis during the past month, the report indicated that Kwara State recorded the highest average price at N4,955 for 5kg of Cooking Gas, followed by Niger State at N4,950 and Adamawa State at N4,940.29 respectively.

According to NBS, Abia State recorded the lowest price at N4,045.45, followed by Kano State and Delta State at N4,100 and N4,139.29, respectively.

Analyses by geo-political zones showed that the North-Central recorded the highest average retail price at N4,726.07 for 5kg Cooking Gas, followed by the North-East at N4,577.86.

The agency further stated that the South-South region of the country recorded the lowest average retail price at N4,275.92 in the past month.

The NBS report as well showed that the average retail price of 12.5kg Cooking Gas increased from N9,906.44 September to N10,050.53 October.

This translates into a 1.45 percent increase on a month-on-month basis.

On a year-on-year basis, the report as well showed an increase of 51.4 percent from N6,638.27 in October 2021 to N10,050.53 October this year.

Further still, the state profile analysis indicated that Cross River State recorded the highest average retail price at N10,986.11 for 12.5kg cooking gas, followed by Oyo State at N10,826.56 and Kogi State at N10,783.33.

The NBS noted the lowest average price was recorded in Yobe State at N8,533.33, followed by Sokoto State and Katsina State at N9,100.00 and N9,202.86, respectively.

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