National Telescope national telescope newspaper
The cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged dramatically from N700 per kilogram in June 2023 to N1,500 per kilogram as of October 2024.
This represents a staggering 114% increase in just 16 months.
This hike is largely attributed to the increasing exchange rate, as LPG prices are dollar-denominated.
The naira has significantly devalued under President Bola Tinubu’s administration, now trading at about N1,700 to a dollar, compared to less than N700 in May 2023.
According to Suresh Kumar, Managing Director of NIPCO Plc, over 60% of the cooking gas consumed in Nigeria is imported.
Speaking at the National Conference of the Nigerian Association of Liquefied Petroleum Gas Marketers in Lagos, he highlighted the inadequacy of local production, calling for government support to increase domestic propane conversion by companies like Chevron.
Currently, less than 40% of the 1.5 million metric tonnes of LPG consumed annually is produced within Nigeria.
This heavy reliance on imports raises concerns that gas prices may continue to climb due to fluctuating exchange rates.
A report from the National Bureau of Statistics (NBS) indicates that the average price for refilling a 5kg cylinder of LPG rose by 4.19% from N6,430.02 in August 2024 to N6,699.63 in September 2024, marking a 59.90% increase from the previous year.
Regionally, Rivers State recorded the highest average price for refilling a 5kg cylinder at N7,285.71, while Kebbi had the lowest at N5,950. The North-East also had the highest average price for refilling a 12.5kg cylinder, indicating significant regional disparities.
As gas prices continue to rise, many Nigerians are returning to traditional cooking methods, such as using firewood.
This trend raises serious concerns about the country’s goals for clean cooking and environmental sustainability, especially as experts warn that continued increases may push more families to use harmful alternatives.
The International Energy Agency highlights the grave consequences of this trend, noting that approximately 500,000 African women die prematurely each year due to the health risks associated with cooking over open fires or using charcoal.
In light of these developments, stakeholders are urging the government to take decisive action to address the challenges facing the LPG sector and to promote clean cooking solutions for all Nigerians.
What I understand with this present government is that, they are trying to raise money from the west masses by all means, for example, they increased VAT making us pay double tax, PHCN tariff increased, privatized hospital, increased school fees, now they know we can’t do without cooking gas and the price is going beyond the reach of poor masses, My Question is, are we still importing cooking gas? The answer is no, may God salvage Nigeria
The problem facing the country is the none challant attitudes of our leaders. The the pains of the so-called petroleum subsidy removal can only be seen in the faces of the poor masses. They don’t feel the pains as everything they need from petroleum to food all are supplied free of no charge, how do you expect them to have feelings for the poor.