As of February 8, 2025, the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in Nigeria has seen significant fluctuations over the past year.
In October 2024, reports indicated that the price had risen to approximately ₦1,500 per kilogram, up from ₦700 per kilogram in June 2023, marking a 114% increase over 16 months.
However, recent data suggests a slight decrease in prices. As of February 7, 2025, depot prices for a 20 metric ton (MT) load were listed as follows:
NIPCO: ₦19,400,000
NAVGAS: ₦19,500,000
MATRIX: ₦22,500,000
These depot prices translate to an average of approximately ₦1,200 to ₦1,300 per kilogram, depending on the supplier. It’s important to note that retail prices can vary based on factors such as location, transportation costs, and retailer margins.
The fluctuations in cooking gas prices are influenced by several factors, including global energy prices, exchange rate volatility, and domestic supply constraints.
Over 60% of Nigeria’s LPG is imported, making the market sensitive to international price movements and currency exchange rates.
Price Breakdown by Cylinder Size:
3kg Cylinder: ₦3,900
5kg Cylinder: ₦6,500
6kg Cylinder: ₦7,800
10kg Cylinder: ₦13,000
12.5kg Cylinder: ₦16,250