Business Hilights
Tracking Nigeria's Headline Business News Online

Cooking gas price climbs to N500/kg, consumers cry out

…As FG remain mute on consequences

The price of Liquefied Petroleum Gas, also known as cooking gas, has jumped almost beyond the reach of many Nigerians to a record high of N500 per kilogramme.

Accordingly, many households both in rural and urban areas have turned to alternatives such as charcoal, kerosene and firewood amid high unemployment and poverty levels in the country.

Checks by Business Hilights showed that the federal government had remained mute on the skyrocketing price of cooking gas in the country.

The price of cooking gas has risen by more than 60 per cent since early December last year on the back of the recent devaluation of the naira and lingering inadequate domestic supply of the fuel. Our correspondent gathered that as cooking gas prices maintained an upward trend in recent months, more Nigerians, especially in the rural and semi-urban areas, have been discouraged from using the fuel for cooking. It was also learnt that some Nigerians who do not have prepaid electric meters are now increasingly using electric cookers in a bid to reduce their cooking gas usage.

Currently, a gas plant in Lagos refilled a 12.5kg cylinder for LPG for N5,500 on July 21.