The National Bureau of Statistics (NBS) has revealed that the average price of a 5kg cooking gas rose to N4,962.87 in December 2023, marking a 2.79 per cent increase from November 2023. The report also highlights a year-on-year surge of 8.70 per cent. Regional variations in pricing are evident, with Adamawa, Jigawa, and Lagos experiencing the highest rates,
while Ebonyi, Imo, and Abia recorded lower prices.
The NBS reports a 3.18 per cent month-on-month increase in the average retail price for refilling a 12.5kg cooking gas, reaching N11,510.16 in December 2023. On a yearly basis, this represents a significant rise of 12.31 per cent. State profiles reveal Cross River, Edo, and Delta as having the highest prices, whereas Ebonyi, Imo, and Anambra recorded the lowest.
According to the NBS, the average retail price per litre of kerosene rose by 5.84 per cent month-on-month, reaching N1,362.27 in December 2023. On a year-on-year basis, the increase is 23.33 per cent. Regional disparities are evident, with Abuja, Ogun, and Benue experiencing the highest prices, while Kwara, Rivers, and Nasarawa recorded lower rates.
The NBS disclosed a 1.17 per cent decline in the average retail price per gallon of kerosene in December 2023, settling at N4,529.92. However, on a year-on-year basis, the price has surged by 20.69 per cent.
State profiles indicate Bauchi, Lagos, and Ekiti as having the highest prices, while Delta, Bayelsa, and Kaduna recorded lower rates. Regional analysis highlights the North-East with the highest average price per gallon and the South-South with the lowest.
The NBS data revealed notable fluctuations in cooking gas and kerosene prices, underscoring the need for consumers and policymakers to monitor and address these dynamics in the energy sector.
