Cooking gas price drops by N700 per kg, households get relief
By Aboki Forex —
The cost of Liquefied Petroleum Gas (LPG) has fallen sharply in Nigeria, dropping by about 31.8% to N1,500 per kilogramme. This gives households some relief after months of high prices.
The price fell from a peak of around N2,200 per kg. That is a reduction of about N700 per kg. Many families had cut back on gas use or switched to cheaper alternatives because of the high cost.
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) said the drop is due to improved supply and better cooperation among industry players and regulators. Association President Edu Inyang said consultations with stakeholders have worked.
“The consultations have yielded positive results. Product availability has improved and confidence has returned to the market, which has helped bring down prices,” Inyang said.
He added that if supply stays steady, the exchange rate remains stable, and logistics costs do not rise, prices could fall further. But he warned that LPG prices still depend on global energy trends and operating costs.
Market players also plan to increase imports. More local production from plants like those in the Niger Delta could also help keep prices down. Authorities are also enforcing rules against hoarding to protect consumers.