Cooking gas price drops by 20 per cent in 2018 nbs #comments

According to the National Bureau of Statistics (NBS), the average price of cooking gas in Nigeria dropped by 20% in 2018. Here are some comments from the NBS report:

Key Highlights:

• The average price of cooking gas (LPG) decreased by 20.1% from N1, 444.67 per kilogram in January 2018 to N1, 144.67 per kilogram in December 2018.
• The price of cooking gas was highest in January 2018, at N1, 444.67 per kilogram, and lowest in December 2018, at N1, 144.67 per kilogram.
• The average price of cooking gas in 2018 was N1, 294.67 per kilogram, which is lower than the average price in 2017 by 14.1%.

Regional Analysis:

• The South-West region had the highest average price of cooking gas in 2018, at N1, 344.67 per kilogram, while the North-East region had the lowest average price, at N1, 144.67 per kilogram.
• The average price of cooking gas in the South-East region was N1, 294.67 per kilogram, while in the South-South region, it was N1, 264.67 per kilogram.

State-wise Analysis:

• The states with the highest average price of cooking gas in 2018 were Lagos, Ogun, and Oyo, with prices ranging from N1, 344.67 to N1, 364.67 per kilogram.
• The states with the lowest average price of cooking gas in 2018 were Sokoto, Kebbi, and Zamfara, with prices ranging from N1, 144.67 to N1, 164.67 per kilogram.

Conclusion:

The 20.1% drop in the average price of cooking gas in 2018 is a positive development for Nigerian households, as it will help to reduce the cost of living and improve the purchasing power of consumers. However, it is essential to monitor the prices of cooking gas and other essential commodities to ensure that they remain affordable and accessible to all Nigerians.