Prices of Liquefied Petroleum Gas (cooking gas) in Africa’s biggest economy fell for the first time in a year in May, offering an unexpected and brief respite to households.
The price of a 12.5kg cylinder of cooking gas dropped by 30 percent owing to lower crude oil prices and a decline in global gas prices.
In a survey of major cities in Nigeria, the price of cooking gas is trending downwards to N7,000 currently from N10,000 two months ago.
ALSO READ:
- Nigerians participation in oil industry now 56 per cent
- Axxela connects Jubaili Bros, Lagos Marriott Hotel, others to its natural gas network
- Egbin Power, House Committee collaborate to improve performance
- Sanwo-Olu inaugurates State Electricity Regulatory Commission, rolls out mandate
- At current tariff, Nigeria subsidizes electricity consumption with N200bn monthly
The drop in price is expected to ease some of the burden on cash-strapped households, who have been dealing with accelerating inflation since last year coupled with the recent hike in fuel prices as a result of subsidy removal.
