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Price of cooking gas soars in Oct.- NBS report

Nigeria's foreign capital flows fall by 78% - NBS

The average price for the refilling of a five kilogram (5kg) cylinder for Liquefied Petroleum Gas otherwise known as Cooking Gas increased to N2,627.94 in October from N2,397.60 in September and N1,953.71 in October 2020.

The National Bureau of Statistics (NBS), said this in its “Liquefied Petroleum Gas (Cooking Gas) Price Watch (October 2021)’’ obtained from its website on Wednesday in Abuja.

It said that the increase was by 9.61 per cent month-on-month and by 34.51 per cent year-on-year.

According to it, states with the highest average price for refilling a 5kg cylinder for cooking gas are Abuja whose residents bought the product at N3,450, Anambra N3,275 and Zamfara N3,200, respectively.

It listed states with the lowest average price for the refilling of a 5kg cylinder as Delta whose residents paid N1,987.75, Lagos N2,004.55 and Abia N2,040.45.

“Similarly, the average price for the refilling of a 12.5kg cylinder increased by 7.68 per cent month-on-month and by 62.76 per cent year-on-year to N6,638.27 in October from N6,164.97 in September and N4,078.65 in October 2020.

“States with the highest average price for the refilling of a 12.5kg cylinder were Oyo N7,718.23, Abuja N7,660 and Imo N7,655.56.

“States with the lowest average price for the refilling of a 12.5kg were Borno N5,133.33, Nassarawa N5,764 and Niger, N6,000.

Meanwhile, the average price per litre paid by consumers for National Household Kerosene in October decreased to N423.42 from N434.39 in September, indicating a decline of 2.52 per cent month-on-month.

The year-on-year comparison showed that the average price in October 2021 (N423.42) increased by 19.97 per cent from N352.93 in October 2020.

The report said that states with the highest average price per litre of kerosene were Lagos whose residents paid N552.12, Ebonyi 546.67 and Cross River N522.22.

Meanwhile, Bayelsa at N265.15, Bauchi at N333.33 and Delta at N338.89 paid the lowest average price per litre for the product in October.

“On the other hand, the average price per gallon paid by consumers for kerosene increased by 0.79 per cent month-on-month in October at N1,552.96 from N1,540.82 in September.

“The year-on-year analysis shows that the average price increased by 25.95 per cent in October 2021 at N1,552.96 from N1,233 in October 2020.

“States with the highest average price per gallon of kerosene were Abuja N2,500, Bauchi N1,910 and Adamawa 1,842.50.

“States with the lowest average price per gallon of kerosene were Yobe N1,120, Imo N1,135 and Delta N1,160.”

The NBS said that in arriving at the report, field work was done by more than 700 of its staff in all states of the federation supported by supervisors who were monitored by internal and external observers.

It said the NBS audit team subsequently conducted randomly selected verification of the prices recorded.

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Chuka Francis

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