GOODNEWS As Price Of Cooking Gas Drops Significantly Nationwide, SEE New Price Per KG
A recent survey has shown that the average price of cooking gas in Nigeria has dropped to its lowest level in four months. Market dealers attribute this price decline to various government measures, including the elimination of Value Added Tax (VAT) and import duties on cooking gas to increase local supplies, as well as the relative stability of the naira against the dollar in the foreign exchange market.
Additionally, the government has started distributing one million unrestrained LPG cylinders nationwide to improve access.
Market observations indicate that the current price of cooking gas has fallen below ₦900 per kilogram for the first time in four months. The last time cooking gas was priced below ₦800 was in early 2024, following a price reduction from ₦1, 300 per kilogram. Dealers believe the government must maintain these efforts to keep prices low and ensure that cooking gas remains affordable for Nigerians.
A manager at Gasland, who spoke anonymously with Legit, confirmed the price reduction. He stated, ” Dealers are now accessing forex more easily in the official market, simplifying imports. The government has also removed obstacles such as VAT and import duties.
” Recently, the government began distributing unrestrained gas cylinders to Nigerians to improve LPG access. This initiative is commendable because no one with a cylinder will leave it unused. Additionally, the government should provide some support to marketers to enable them to import more of the product, further driving prices down. ”
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the government began distributing unrestrained gas cylinders to Nigerians to improve LPG access. This initiative is commendable because no one with a cylinder will leave it unused. Additionally, the government should provide some support to marketers to enable them to import more of the product, further driving prices down.”
These government initiatives have significantly impacted the market, with many households seeing a notable reduction in their monthly cooking gas expenses. This is especially important given the rising cost of living and inflationary pressures in the country. Affordable cooking gas is essential for many Nigerian families who rely on it as their primary cooking energy source.
Moreover, the increase in local cooking gas supplies has spurred greater competition among dealers, contributing to the price drop. As more dealers enter the market, this heightened competition is likely to keep prices stable or even lower in the coming months, benefiting consumers and easing some of their financial burdens.
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The government’ s efforts to stabilize the naira have also played a crucial role in the price reduction. By maintaining a stable exchange rate, the cost of importing cooking gas has been controlled, directly affecting the retail price. This foreign exchange market stability is vital for the long-term price stability and affordability of cooking gas in Nigeria.
