Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Nigerian households have received rare relief as the price of cooking gas experiences a fresh drop, falling by N150 per kilogramme in key cities.
Legit.ng findings show that liquefied petroleum gas (LPG), which previously sold for N1,050 per kg in early July, now sells for N900 in Lagos, Abuja, and other major markets.
Gas dealers across Lagos attribute the price cut to the recent stabilisation of the naira, currently trading at around N1,535 per dollar, and favourable government policies. A manager at Gasland, a prominent LPG supplier, explained that reduced import costs and clearer planning windows have contributed to the trend.
“Cooking gas is influenced by the exchange rate, import duties, and demand surges. A stable naira gives importers more confidence,” said John Oke, a Lagos-based dealer.
Government policy changes are also playing a key role. Recent tax reforms, including the removal of VAT and import duties on LPG accessories, have reduced overall costs for both distributors and end users. This has widened accessibility and softened retail prices nationwide.
Depot-level prices are also reflecting the trend. According to data from PetroleumPriceng, some of Nigeria’s top depots have adjusted prices downward:
These depot adjustments are a major contributor to the lower retail rates now being seen at filling stations.
While the National Bureau of Statistics (NBS) has not yet released June 2025 LPG price figures, its May report paints a stark contrast. In May:
These figures marked the highest levels for the year, representing sharp year-on-year increases of over 10% and 32%, respectively.
Significant regional price differences remain. In May 2025:
Even with the current decline, pricing across states may remain uneven due to logistics, demand, and depot access.
The price reduction comes as Nigeria’s headline inflation eased from 22.79% in May to 22.22% in June 2025, according to the NBS.
While economists remain cautious, the dual movement of falling gas prices and easing inflation could indicate a mild improvement in consumer relief.
Legit.ng earlier reported that in a move to disrupt Nigeria’s liquified petroleum gas (LPG) market, Aliko Dangote has announced plans to cut cooking gas prices and cautioned marketers against bypassing traditional distribution channels if they do not comply with the refinery’s pricing guidelines.
The billionaire businessman disclosed this during a facility tour with the Lagos Business School’s GCEO Africa delegation at the Lekki-based refinery on Tuesday, July 15, 2025.
He stressed the need to make cooking gas affordable for low-income households as Nigeria battles rising energy poverty.
Read more on Legit.ng – Nigeria news.
