The cost of a 12.5kg cooking gas cylinder has surged to N12,500, as indicated by recent market analysis. Gas retailers have elevated the price from the N10,000 reported towards the end of the previous month, reaching approximately N12,500 in the Lagos region.
Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, cautioned that the price for a 12.5kg cooking gas cylinder could potentially reach as high as N18,000 by December if the Federal Government does not intervene and regulate the activities of terminal owners.
Olatunbosun Oladapo stated, ‘Yes, the current price stands at N1,000 per kilogram, and despite our meeting with the NMDPRA, the government has yet to intervene.’
He further shared that gas retailers still procure 20 metric tons of gas at the cost of N14 million at the depots. ‘We acquire a 20 MT truck at N14 million from the depots.
Additionally, the surging price of diesel has contributed to the expenses, making it now cost N1.7 million to transport gas from Lagos to the Northern regions. When selling at N1,000 per 1kg here, the cost elsewhere, particularly in the Middle East and North, surges considerably.’
He emphasized the need for prices to decrease, allowing the average citizens to benefit from the Federal Government’s decade of gas policy, aiming to ensure gas accessibility and affordability for the general populace.”