The price of Liquefied Petroleum Gas (LPG) or cooking gas in Nigeria has risen to N1,300 per kilogram in August 2024, an 8.3% increase from N1,200 in July. Similarly, the cost of a 5kg cylinder has increased by 8.3%, now selling for N6,500, up from N6,000 in July. According to Mr. Olatunbosun Oladapo, President of the Nigeria Association of Liquefied Petroleum Gas Marketers, the price rise is influenced by exchange rates, but he anticipates a potential drop by the end of the month.

The National Bureau of Statistics (NBS) reported that the average retail price for refilling a 5kg cylinder decreased by 14.23% in July 2024, to N5,974.55 from N6,996.03 in June. Year-on-year, the price increased by 46.96% from N4,072.87 in July 2023. Borno State had the highest average price for refilling a 5kg cylinder at N7,088.59, while Delta State recorded the lowest at N5,392.86. The North-East region had the highest average price by zone at N6,446.53, with the South-South region having the lowest at N5,654.04.