The trend in cooking gas prices in Nigeria, as reported by the National Bureau of Statistics (NBS), is a real cause for concern for many households. Indeed, according to the report published for the month of September 2024, the average price of a 5kg gas cylinder increased to N6,699.63, compared to N6,430.02 recorded in the previous month. This increase of 4.19% in one month is significant and directly impacts household budgets.
On an annual basis, the increase is even more striking, with an increase of 59.90% compared to September 2023. This upward trend is also noted for 12.5kg cooking gas cylinders, with an average price that increased by 4.89% compared to the previous month, and by 76.41% over a year.
Analysis by region reveals significant disparities, with higher prices recorded in some states like Rivers, Gombe and Borno, while other states like Kebbi, Kano and Benue have relatively lower prices. This highlights the challenges faced by consumers in accessing essential commodities at affordable prices.
In parallel, the price of kerosene has also increased to N1,957.44 per litre in September 2024, an increase of 5.97% from the previous month. This situation poses additional challenges for households that rely on kerosene for cooking and lighting.
In the face of these increases in the prices of essential commodities, it is essential that the relevant authorities take measures to mitigate the impact on the most vulnerable households. Effective price control policies and support for populations in need could help ensure that citizens have access to essential commodities at affordable prices.
In conclusion, it is crucial to closely monitor the evolution of prices of basic necessities in Nigeria and put in place adequate measures to ensure price stability and protect the purchasing power of citizens.