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Prices of cooking gas rise to N4,139 in June, says NBS

By on July 22, 2020 0 96 Views

The average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (LPG), Cooking Gas rose to N4,139.18 in June from N4,136.87 in May 2020, the National Bureau of Statistics (NBS) said in its report on Wednesday.
However, the refilling of the 12.5 Kg cooking gas cylinder cost more in states like Cross Rivers, Bayelsa and Akwa Ibom, according to the report.
The report stated that refiling 12.5 kg cooking gas cylinder cost N4,589.90 in Cross River, N4,583.26 in Bayelsa and N4,555.56 Akwa Ibom in the month of June.
The NBS report showed that the cost of refilling a 5kg cylinder of Cooking Gas also increased by 0.45 percent month-on-month in June but declined 1.07 percent year-on-year. The cost of refiling 5kg cooking gas cylinder rose to N1,973.95 in June 2020 from N1,965.03 in May 2020.
“States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,483.03), Adamawa (N2,391.81) and Borno (N2,391.44).
“States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Enugu (N1,607.14), Jigawa (N1,666.67) and Imo (N1,675.00),” the NBS wrote in its report.
Increase in domestic cooking gas automatically add up to the rising cost of living among the Nigeria populace, reflecting the increase in inflationary trend in the country.
A sustained increase in the cost of living in the country reduces the quality of life and pushes more people into the poverty line while a survey by the NBS has shown that more people lost their jobs during the lockdown imposed by the government to contain the spread of coronavirus pandemic in the country.
Nigeria is currently battling with dwindling revenue from oil exports due to the impact of the coronavirus on demand chain leading to a sharp drop in global oil prices.
A number of companies have quietly eased out many of their workers as production level declined across the board, leading to reduction in the earnings capacity of many companies.

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