Nigerians paid less to refill 5kg gas cylinders in November – NBS report

The National Bureau of Statistics (NBS) has revealed that the average price for refilling a 5kg cylinder of cooking gas decreased by -0.32% to N1,947.47 in November, from N1953.71 in October 2020.

The report also revealed that the average price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) also increased by 0.11% month-on-month and decreased by -0.93% year-on-year to N4,082.97 in November 2020.

This is according to the latest NBS Liquefied Petroleum Gas (Cooking Gas) Price Watch report, for the month of November 2020.

Key metrics

States with the highest average price for the refilling of a 5kg cylinder for LPG (Cooking Gas) were Bauchi (N2,488.32), Borno (N2,396.69), and Adamawa (N2,367.80).States with the lowest average price for the refilling of a 5kg cylinder for LPG (Cooking Gas) were Enugu (N1,561.00), Imo (N1,662.50), and Osun (N1,683.75).States with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Akwa Ibom (N4,587.60), Bayelsa (N4,558.33) and Cross River (N4,505.77).States with the lowest average price for the refilling of a 12.5kg cylinder for LPG (Cooking Gas) were Kano (N3,497.00), Oyo (N3,553.13) and Lagos (N3,682.00)

What you should know

The report was conducted by collating prices of Liquefied Petroleum Gas (Cooking Gas) across all the 774 local governments across the nation, with over 10,000 respondents and locations.The report also revealed that States in the North-West and South-West zones had the lowest average price for cooking gas across the six geo-political zones of the country. While States in the South-South zone recorded the highest average prices.

Bottom line of the NBS reportA careful review of the report revealed that the decrease in the average price Nigerians paid to refill cooking gas in October is attributable to the fall in the purchasing power of Nigerians, given the widespread economic vulnerabilities in the nation and the civil unrest in October which impacted businesses negatively, as Nigerians hunt for cheaper alternatives.