Sunday, 07 June 2026
BUSINESS

Cooking Gas Prices in Nigeria Spike to N2,400 per Kilogram Amid Supply Strain and Currency Pressures

By Admin June 7, 2026 17 Views

Nigeria is facing a fresh surge in the cost of cooking gas, with prices climbing as high as N2,400 per kilogram in some areas, according to an investigation by *Punch Newspapers*. The increase, recorded within weeks, marks a steep jump from the N1,000–N1,100 range seen last month, raising concerns over affordability and energy access for millions of households.

 

At major retail outlets, liquefied petroleum gas (LPG) now sells between N1,650 and N1,900 per kilogram, while smaller, independent vendors charge significantly higher rates. Market operators attribute the spike to a combination of rising wholesale costs, erratic supply, and broader economic pressures, including the weakening of the naira and escalating diesel prices.

 

Retailers say supply disruptions have worsened in recent weeks, forcing them to adjust prices to remain in business. “We are buying at higher rates from depots, and transportation alone has become more expensive because of diesel costs,” one Lagos-based distributor said. “There’s also inconsistency in supply, which pushes prices up even further.”

 

Despite Nigeria’s vast natural gas reserves, industry analysts point to the country’s heavy reliance on imports for domestic LPG consumption as a key vulnerability. When global prices rise or foreign exchange becomes scarce, the local market feels the impact almost immediately.

 

Geopolitical tensions have also played a role. Traders cited uncertainty linked to the ongoing crisis involving the United States, Israel, and Iran as a factor influencing global energy markets, indirectly affecting LPG pricing in Nigeria. Additionally, unresolved disputes surrounding local refinery operations last year continue to strain supply chains.

 

For many Nigerian households, the price hike is already altering daily routines. Some families report rationing gas usage, while others are considering switching back to more traditional cooking methods such as charcoal or firewood, an option public health advocates warn could have serious environmental and health consequences.

 

Consumer rights groups have condemned the development, describing it as an added burden on citizens already grappling with high inflation and rising living costs. “This is economic cruelty,” one advocacy group said in a statement, urging the government to intervene and stabilize prices.

 

Energy experts argue that long-term solutions will require boosting local LPG production, improving distribution infrastructure, and reducing reliance on imports. Without such reforms, they warn, price volatility may persist, leaving consumers exposed to both domestic and global shocks.

 

As the situation unfolds, many Nigerians are left navigating the immediate impact, balancing household budgets against the rising cost of a basic necessity, cooking fuel.

 


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Admin

A professional journalist and content editor specializing in investigative reporting, politics, business, and breaking news. With years of newsroom experience, the author is committed to delivering accurate, balanced, and timely news coverage for readers across Nigeria and beyond.

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