As of January 17, 2025, the price of cooking gas (Liquefied Petroleum Gas, LPG) in Nigeria has skyrocketed, placing immense pressure on household budgets across the country. The average retail price for refilling a 12.5kg cylinder has surged to approximately ₦17,000, marking a sharp 41.6% increase from ₦12,000 recorded in July 2024.
In Abuja and other major cities, residents are grappling with these steep price hikes, forcing many households to adjust their spending on essential energy needs.
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Key Drivers Behind the Cooking Gas Price Hike:
- Global Crude Oil Price Volatility:
- LPG prices in Nigeria are heavily influenced by fluctuations in global crude oil prices. Nigeria’s reliance on imported cooking gas makes it vulnerable to international market shifts. Any spike in crude oil prices directly drives up the cost of LPG imports, leading to higher retail prices for consumers.
- Exchange Rate Instability:
- The persistent depreciation of the Nigerian Naira against major global currencies has significantly increased the cost of importing LPG. The weakened Naira amplifies the impact of global price fluctuations, making imported goods, including cooking gas, more expensive for local distributors and consumers alike.
- Seasonal Demand Peaks:
- During festive periods and holidays, the demand for cooking gas spikes, particularly in urban areas where LPG is the preferred cooking fuel. This surge in demand creates supply pressure, leading to temporary price increases during high-demand seasons.
Current Cooking Gas Prices Across Nigeria (January 2025):
- 1kg Cooking Gas: ₦1,300
- 3kg Cooking Gas: ₦3,900
- 5kg Cooking Gas: ₦6,500
- 6kg Cooking Gas: ₦7,800
- 10kg Cooking Gas: ₦13,000
- 12.5kg Cooking Gas: ₦16,250
Impact on Nigerian Households:
The drastic increase in cooking gas prices has strained household budgets, particularly for low- and middle-income families. Many are being forced to seek alternative cooking methods, such as firewood and charcoal, despite their health and environmental implications. The rising costs also threaten small businesses that rely heavily on LPG for their daily operations, potentially leading to reduced profit margins and higher product prices.
Government and Industry Response:
The Nigerian government is under growing pressure to address the skyrocketing prices of cooking gas. Policy interventions such as encouraging local LPG production, stabilizing the Naira, and improving storage and distribution infrastructure are being explored to mitigate the crisis. Industry stakeholders are also advocating for targeted subsidies or tax relief to ease the burden on consumers.
What Lies Ahead:
With global oil market uncertainties and domestic economic challenges, cooking gas prices in Nigeria may continue to fluctuate. Stakeholders emphasize the urgent need for sustainable solutions to stabilize LPG prices and ensure affordable energy access for all Nigerians.
The soaring cost of cooking gas in Nigeria has become a critical economic issue in 2025, with a staggering 41.6% price hike severely impacting households nationwide. Immediate and strategic government intervention is essential to protect consumers and stabilize the energy market.
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