Cooking Gas Crashes to Lowest in Four Months as FG Takes Action on VAT, Import Duties
Cooking gas dealers have crashed the commodity’s price to a four-month low
Dealers attributed the change to the government’s intervention, such as free cylinder distribution and import duty removal
The first time the commodity crashed lower, the current price was early in the year when it sold for about N700 per kg
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade
A survey by Legit.ng reveals that the price of liquified petroleum gas (LPG), also known as cooking gas, has plummeted to a four-month low.
Dealers of the commodity quoted the product price low, attributing it to various interventions by the Nigerian government.
FG’s intervention crashes LPG price
Legit.ng previously reported that the Nigerian government removed Value Added Tax (VAT) and import duty on LPG to boost local supplies.
Also, the government began the free distribution of one million unrestrained LPG cylinders nationwide to enhance access.
Findings by Legit.ng show that dealers across Nigeria have crashed the cooking gas price below N900 per kilogramme for the first time in four months.
The first time cooking gas was sold below N800 was early in 2024, when dealers announced a price reduction after it hit N1,300 per kilogramme.
Dealers laud FG’s interventions
Dealers sell cooking gas at new cost after three-week price crash
The dealers say the addition is due to the crash of the naira against the US dollar.
