Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
A few days after threatening to slash the price of liquefied natural gas (LPG) in Nigeria, Aliko Dangote seems to have made good on his promise.
A prior report by Legit.ng disclosed that the billionaire 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.
Check by Legit.ng on petroleumpriceng shows that the refinery has slashed its LPG prices to N795 per kg from N800, representing a N5 cut.
While the refinery has yet to confirm if the price cut is keeping with Dangote’s promise, the current depot cost is cheaper than most dealers’, the investigation shows.
According to findings, the average depot price of LPG ranges between N812 per kg to N815.
According to the data, several depot owners are feeling the heat as most of them have cut LPG prices to stay competitive.
Already, dealers across Nigeria have adjusted to the new prices, crashing their costs to N900 per kilogramme from N1,050 last week, Legit.ng reported.
The new price has been reflected since last week, with dealers saying that the naira stability and government policies on LPG have helped to reduce the price.
John Oke, an LPG dealer in Lagos, told Legit.ng in an exclusive chat that the commodity’s price is impacted most by forex and policies.
He disclosed that the reduction in prices was due to the naira’s stability, forex availability, and the government’s policy, which removed import duty on LPG accessories.
“The naira is stable now, meaning that importers can plan. In addition, there is improved dollar liquidity in the forex markets, which has allowed importers to access FX at a reasonable rate,” he said.
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.
Even with the current decline, pricing across states may remain uneven due to logistics, demand, and depot access.
Legit.ng earlier reported that the price of liquefied natural gas (LPG), also known as cooking gas, has decreased, offering slight relief to Nigerians amid the rising cost of living.
New data shows that several depot owners, including Dangote Petroleum Refinery, have also adjusted their prices.
LPG prices in Nigeria have climbed sharply at key depots, with most now selling to retailers at over N900 per kilogram, except Dangote Refinery, which sells to marketers at N855 as of Tuesday, May 20.
Read more on Legit.ng – Nigeria news.
