Nigeria’s high inflation rate which was 32.15 per cent in August has continued to impact the prices of energy, with the rates paid by Nigerians for cooking gas rising by as much as 70 per cent year-on-year.
Specifically, data from the National Bureau of Statistics (NBS) indicated that the amount that Nigerians spent on filling their cooking gas tubes rose by 69.15 per cent during the period under review.
But the three states with the highest prices of the commodity during the period were those with some level of oil and gas production, including Rivers, Cross Rivers and Abia.
However, the lowest average price was recorded in Bauchi with N13,425.00, followed by Nasarawa and Adamawa with N13,640.94 and N13,725.00 respectively.
“The average retail price for refilling a 12.5kg Cylinder of Liquefied Petroleum Gas (LPG) increased by 9.05 per cent on a month-on-month basis from N14,261.57 in July 2024 to N15,552.56 in August 2024. On a year-on-year basis, this rose by 69.15 per cent from N9,194.41 in August 2023.
“On state profile analysis, Rivers recorded the highest average retail price for the refilling of a 12.5kg Cylinder of LPG with N17,086.36 followed by Cross River with N17,050.00 and Abia with N17,012.52,” the NBS data for August showed.
Conversely, the lowest average price was recorded in Bauchi with N13,425.00, followed by Nasarawa and Adamawa with N13,640.94 and N13,725.00 respectively.
Despite the federal government announcing the removal of Value Added Tax (VAT) from the commodity since October last year, the prices of cooking gas have failed to drop considerably.
Nigeria has about 209 Trillion Cubic Feet (TCF) of gas under the ground, but the country is unable to fully explore the natural resource due to low investment in the sector.
Besides, the analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cylinder of cooking gas with N16,524.00, followed by the South-East with N16,495.78 while the North-Central recorded the lowest price with N14,767.41.
In addition, the average retail price for refilling a 5kg cylinder of cooking gas increased by 7.62 per cent on a month-on-month basis from N5,974.55 recorded in July 2024 to N6,430.02 in August 2024.
But on a year-on-year basis, this increased by 56.25 per cent from N4,115.32 in August 2023.
“On state profile analysis, Benue and Sokoto recorded the highest average price for refilling a 5kg of cooking gas with N7,000.00, followed by Rivers with N6,954.55, and Borno with N6,914.29.
“On the other hand, Taraba recorded the lowest price with N5,600.67, followed by Abuja and Kogi with N5,825.00 and N5,857.56 respectively.
“ In addition, analysis by zone showed that the South-East recorded the highest average retail price for refilling a 5kg cylinder of LPG with N6,585.18, followed by the South-South with N6,451.34 while the North-Central recorded the lowest with N6,344.29,” the data showed.
Nigeria’s inflation rate has been on a rising trajectory in recent months, hitting as high as 34 per cent before dropping slightly to 32.15 per cent in August from 33.40 per cent in July of 2024.
Emmanuel Addeh
Follow us on:
Governor Biodun Oyebanji has donated N21 million and food items to special schools and centres…
Works Minister Dave Umahi says first 20 kilometres of the Lagos-Calabar highway will be inaugurated…
Nigeria has extended heartfelt condolences to Germany following the Magdeburg Christmas market attack that killed…
Nigeria has refuted Niger’s allegations of supporting terrorism, denying involvement in the December pipeline attack…
Lekki residents have protested poor electricity, accusing EKEDC of neglect despite years of dialogue and…
NNPC has debunked media reports alleging the Port Harcourt Refinery, re-streamed two months ago, was…
View Comments
<<<<recruitement form="" is="" out="" we="" are="" replacing="" a="" new="" officers="" interested="" applicant="" should="" contact="" us="" for="" more="" information.;="">>><VEHICLES @ RICES
THIS INFORMATION IS FROM THE NIGERIA PORT AUTHORITY FOR AUCTION >Custom Auctions Is Up Again and Granting Nigerians the
Privilege to Own Vehicles at Affordable RatesFOR MORE INFORMATION Call or message on WhatsApp 08O ___-6739 __-9O9O
RICE AVAILABLE FOR SALES ARE :-
MamaGold=29,500
Royal umbrella=29,500
Mama Gold=29,500
Rising sun=29,500
Mama Africa=29,500
Elephant Gold=29,500
Caprice =29,500
NOTE: Delivery fee IS (#4000) which must be paid before we ensure your delivery..
*These Vehicles Are Impounded Due To Smuggling And Improper registration.*
*These Vehicles Are Direct Tokunbo and Has Never Been Used In Nigeria.*.For any purchase
Call the officer
08O ___-6739 __-9O9O
•Toyota Land Cruiser-N1.3m
•Toyota Prado N1.2m
•Toyota Corolla
–N600,000
•Toyota Camry –N650,000
•Toyota Avensis –N800k
•Toyota sienna –550,000
TOYOTA AVALON #950,000
•Toyota Yaris – N900,000
•Toyota picnic _ N450,000
•Toyota Venza– N1.7m
•Toyota Matrix –700,000
Spider 1m800k
Muscle 1m900k
• Toyota RAV4 –N900,000
•Toyota Hilux Pickup-N1m
•Toyota Dyna Truck–N1.3million
•Toyota 4 Runner–N1m
tundra 2.670,000
tacoma 2.5Million
•Toyota Hiace Bus –N1.5m
•Toyota Highlander-N1.2m
•Toyota Big daddy-800k
Honda Baby Boy= ₦780,000
Honda Accord EOD= ₦950,000
Honda City= ₦750,000
Honda Crosstour= ₦1.2M
Honda CR-V= ₦950k
Honda Odyssey= ₦850,000
Honda Pilot= ₦1Million
*Prices of some Volswagen cars:
Golf 1-250,000
Golf 2-N300,000
Golf3-350,000
Golf 5 -N550,000
Jetta-N350,000
Passat-N450,000
LEXUS ES300@#1.3 MILLION
LEXUS ES330@#1.6 MILLION
LEXUS ES350@#2 MILLION
LEXUS RX300@#1.7 MILLION
LEXUS RX330@#3 MILLION
LEXUS RX350@#4 MILLION
LEXUS RX400@#3.5 MILLION
LEXUS GX460@#4 MILLION
LEXUS GX470@#5 MILLIONLexus GX460=₦6.6M
Lexus GX470=₦8.4M
Lexus GX570=₦13.8M
Lexus IS-250=₦2.1M
Lexus ES-330=₦1.5M
Lexus ES-350=₦2.6M
Lexus RX300= ₦1.5M
Lexus RX330= ₦2.8M
Lexus RX350= ₦3.2M. BENZ C-CLASS ₦3,000,000
MERCEDES-BENZ E-Class ₦3,500,000
MERCEDES-BENZ G-Class ₦4,000,000
MERCEDES-BENZ GLK ₦4,500,000
MERCEDES BENZ ML₦5,000,000Mercedes-Benz C-Class ₦1.5 million
Mercedes-Benz E-Class ₦1.7 million
Mercedes-Benz G-Class ₦2.5 million
Mercedes-Benz GLK ₦3.5 Million
Mercedes Benz ML350 ₦2.3 million
Mercedes Benz g-wagon ₦125 million.
Range rover vogue 6mill
Range rover sport HSE 4.8m
Land rover 3.3m
MANY MORE EXCLUSIVE OFFER'S LIKE.....
LAPTOPS, GENERATOR'S, FRIDGE, CONTAINERS, PHONE, MOTORCYCLE, AND KEKE.... Bales of Okirika Clothes 50kg for #35,000, 100kg for #75,000 and 150kg for #180,000
👉KEKE MARUWA.
Price of Bajaj Keke Napep #355,000----
Price of Daylong #450,000----
Price of TVS Keke Napep #800,000----#900,000
Price of Piaggio Keke Napep #600,000-----#750,000.
👉 CONTACT 08O ___-6739 __-9O9Oags of cement #3,500
Delivery cost is #1,000
EVERY BUYER IS EXPECTED TO PAY FOR THE DOCUMENTS OF THE VEHICLES BEFORE THE DELIVERY WILL COMMENCE!!!!WE DELIVER NATION WIDE NOTICE INSTALLMENTAL PAYMENT IS ALLOWED!!! ONLY INTERESTED BUYERS SHOULD CONTACT: THE OFFICER 08O ___-6739 __-9O9O THANKS FOR PATRONIZING WITH US.!!