Price of cooking gas jumps 103.92% in June

The living standard of Nigerians has continued to worsen as prices of essential goods maintain an upward trajectory over the last one year.

The National Bureau of Statistics (NBS) in its Liquefied Petroleum Gas Price Watch and selected Food Price Watch for the month of June 2022, released yesterday, showed that the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas), increased by 103.92 percent from N2,068.69 in June 2021 to N4,218.38 in June 2022, while that of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by 24.17 percent from N431.79 in June 2021 to N536.17 in June 2022.

The report said on a month-on-month basis, the price of LPG increased by 7.57 percent from N3,921.35 recorded in May 2022 to N4,218.38 in June 2022.

Recently, members of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) in an open letter to the government raised the alarm that the price of cooking gas was gradually rising above the reach of average Nigerians and pushing many people into using charcoal and firewood for their cooking needs with its adverse effects on the climate.

NALPGAM said customers are currently paying more than triple what they were charged in January and that is not good for a country that wants to encourage its citizens to use gas for cooking.

The NBS report said on state profile analysis, Adamawa recorded the highest average price for refilling a 5kg Cylinder of LPG with N4,650.00, followed by Gombe with N4,566.67 and Niger with N4,540.00.

On the other hand, Zamfara recorded the lowest average price with N3,700.00, followed by Yobe and Kano with N3,820.00 and N3,875.00 respectively.

In a related development, the NBS in another report on selected Food Price Watch for the month of June 2022, said that the average price of 1kg of beans (white, black eye, sold loose) rose on a year-on-year basis by 24.17 percent from N431.79 in June 2021 to N536.17 in June 2022. On a month-on-month basis, this increased by 2.19 percent from N524.70 in May 2022.

The average price of 1kg Yam tuber increased on a year-on-year basis by 30.64 percent from N294.29 in June 2021 to N384.48 in June 2022. On a month-on-month basis, the average price of this item increased by 3.29 percent in June 2022.

Similarly, the average price of 1kg beef (boneless) rose by 26.83 percent on a year-on-year basis from N1,639.96 in June 2021 to N2,079.93 in June 2022. In addition, the average price of Groundnut oil: 1 bottle, specify bottle stood at N1,062.90 in June 2022, showing an increase of 42.07 percent from N748.16 in June 2021. On a month-on-month basis, it rose by 2.12 percent from
N1,040.88 in May 2022.

The average price of 1kg Rice (locally sold loose) on a year-on-year basis, rose by 21.62 percent from the value recorded in June 2021 (N401.82) to N488.68 in June 2022. On a month-on-month basis, it increased from N447.51 in May 2022 to N488.68 in June 2022 indicating 9.20 percent growth.

In the same vein, the average price of Palm oil (1 bottle, specify bottle) increased by 42.96 percent from N609.21 in June 2021 to N870.90 in June 2022. It also grew by 2.77 percent on a month-on-month basis.