Price of cooking gas surges by 0.21% in October – NBS
THE average price of 5kg cooking gas increased from N4,474.48 in September to N4,483.75 in October, representing a 0.21% rise.
This was disclosed by the National Bureau of Statistics (NBS) in its ‘Cooking Gas Price Watch’ for October 2022 released today in Abuja.
On a year-on-year basis, the increase was 70.62 per cent from N2,627.94 in October 2021 to N4,483.75 in October 2022, the NBS stated.
On state profile analysis, the report shows that Kwara recorded the highest average price at N4,955 for 5kg of cooking gas, followed by Niger at N4,950 and Adamawa at N4,940.29.
The report states that Abia recorded the lowest price at N4,045.45, followed by Kano and Delta at N4,100 and N4,139.29, respectively.
Analyses by geo-political zones show that the North-Central recorded the highest average retail price at N4,726.07 for 5kg cooking gas, followed by the North-East at N4,577.86.
It stated that the South-South recorded the lowest average retail price at N4,275.92.
The NBS also disclosed in the report that the average retail price of 12.5kg cooking gas increased from N9,906.44 in September to N10,050.53 in October, indicating a 1.45 percent increase on a month-on-month basis.
It added that on a year-on-year basis, showing an increase of 51.4 percent from N6,638.27 in October 2021 to N10,050.53 in October 2022.
On state profile analysis, the report showed that Cross River recorded the highest average retail price at N10,986.11 for 12.5kg cooking gas, followed by Oyo State at N10,826.56 and Kogi at N10,783.33.
The lowest average price was recorded in Yobe at N8,533.33, followed by Sokoto and Katsina at N9,100.00 and N9,202.86, respectively, according to the report.