Liquefied Petroleum Gas (LPG), commonly known as cooking gas, is currently in short supply in Lagos and several other states across Nigeria. The scarcity has led to a noticeable increase in prices, impacting consumers across the affected regions.
The shortage has been observed since late month and has triggered a continuous rise in cooking gas prices. According to market surveys conducted over the weekend, a 12.5kg cylinder of cooking gas is now selling for prices ranging between N13,500 and N14,000 in the black market.
Gas traders have reported that gas plant owners are selling to them at rates between N1,100 and N1,200 per 1kg of gas due to difficulties in accessing an adequate supply. In comparison, as of June, the price of a 12.5kg cylinder was around N8,700. In September, the price rose to N10,200, and as of the weekend, it had further surged to between N13,500 and N14,000.
Oladapo Olatunbosun, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, confirmed that there is currently an insufficient supply of cooking gas in Lagos State. He urged consumers to seek out businesses with gas plants, where prices are lower, and cautioned against patronizing those who don’t have direct access to gas plants, as they tend to add their profit margin to the cost of the gas. The shortage and price increase are causing concerns among consumers who rely on cooking gas for their daily cooking needs.