Price of cooking gas reduces in Nigeria

The price of cooking gas in Nigeria has reduced to its lowest point in the past four months, according to a recent survey.

Dealers attribute this reduction to several government initiatives, including the elimination of Value Added Tax (VAT) and import duties on cooking gas to bolster local supply.

Additionally, the stability of the naira against the dollar in the foreign exchange market has played a role.

Moreover, the government has launched a program distributing one million free LPG cylinders nationwide to improve accessibility.

Current market observations indicate that the price of cooking gas has dropped below N900 per kilogram, marking a significant decrease from earlier peaks of over N1,300 per kilogram earlier in 2024.

A manager at Gasland, speaking anonymously to Legit, affirmed the price reduction, citing improved forex accessibility and government policy adjustments.

Dealers emphasize the importance of sustained government efforts to maintain affordability and ensure continued access to cooking gas for Nigerians.