Nigeria's Cooking Gas Prices Crash Amid Increased Domestic Supply

Nigeria's cooking gas prices have plummeted to near-record lows, providing relief for households struggling with soaring costs. The retail price of Liquefied Petroleum Gas (LPG) has dropped by nearly 39% in just two months, from over N2,000 per kilogramme in June to around N1,400/kg in Lagos and Enugu. This decline is largely due to increased product availability at depots and lower wholesale prices, allowing marketers to slash pump prices nationwide.

For many Nigerians, the price cut has made a significant difference. In Lagos, one resident, Juliet Onyinyechi, was charged N8,400 for a 6kg gas refill, saving her N5,400 compared to what she would have paid before. Across the country, similar stories are emerging as lower prices ease pressure on household budgets.

Industry experts caution that sustaining this price decline will require increased domestic gas production, stable foreign exchange rates, and greater investment in gas infrastructure. They warn that any disruption in supply could quickly push cooking gas prices higher again. Despite holding one of Africa's largest natural gas reserves, Nigeria still depends on imported LPG to meet local demand.