Nigerians Face ‘Renewed’ Hardship Under Tinubu Govt As Cooking Gas Price Rises To N1,500 Per Kg
Nigerians are grappling with increased economic pressure as the price of Liquefied Petroleum Gas, LPG, also known as cooking gas rises to N1,500 per kilogram, deepening the cost-of-living crisis under the Bola Ahmed Tinubu government.
The hike comes amid already soaring prices of essential goods, putting additional strain on households across the country. Many consumers and traders have expressed frustration, describing the increase as a heavy burden on ordinary Nigerians.
The price increased by 14.3 percent on a month-on-month, MoM, basis, to N1,500 per kilogram, from N1,300 recorded last month.
However, the ex-depot price of the product increased by 16.7 percent on a MoM basis to N21 million per 20 metric tonnes (MT), up from N18 million recorded last month.
Reports indicated that cooking gas now sells up to N1,500 per kilogramme in many locations.
The National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Mr. Inyang Edu, confirmed that the depot price rose to N21 million adding that the purchasing power of Nigerians dropped drastically due to the hike in price.
According to him, the dealers now record poor sales at their various gas plants as consumers resort to other sources of energy.
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“The depots sell N1,065,000 per one metric ton which gives a total of over N21 million for 20 metric tonnes. The depots include, Rainoil, Nipco, Mobil, Ardova. Before now, Nipco sold for N19.5 million per 20 metric tonnes but it has now been increased to N21 million”.
Commenting on the cause of the sharp increase, Inyang said it was related to the Middle East crisis as it has affected not only cooking gas but other petroleum products.
