The price of refilling a 12.5kg Liquefied Petroleum Gas (LPG) cylinder has surged by 34.6 percent on a week-on-week basis, reaching N17,500 this week, up from N12,750 last week.
Investigations by Vanguard revealed that the price of 1kg of LPG now retails between N1,350 and N1,500, depending on the location. The surge comes as supply challenges ripple through South-West Nigeria.
Speaking in a phone interview, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Mr. Olatunbosun Oladapo, attributed the price hike to an industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
He explained that the strike significantly disrupted the LPG supply chain, forcing gas plants across the South-West to operate at limited capacity or remain shut. “Gas is largely driven by demand and supply. When supply is limited, demand spikes, causing prices to rise,” Oladapo said.
Oladapo highlighted Dangote Gas as a major supplier whose delay in releasing loading invoices to marketers—pending for over three weeks—has forced them to purchase from other competitors at inflated rates.
“Other suppliers have taken advantage of the challenges our marketers face with Dangote and the ongoing strike to increase their prices. No marketer wants to leave his plant empty, so they are compelled to buy at higher rates,” he added.
He appealed to Dangote Gas to expedite the release of products to more marketers to stabilize supply. “We are hopeful the price will drop in the coming weeks once supply normalizes,” Oladapo said.
Consumers across Lagos, Ibadan, and other parts of the South-West have felt the pinch, with many struggling to afford their regular LPG supplies. The price jump has raised concerns about inflation and cost-of-living pressures in the region.
Experts warn that the continuation of industrial action or further supply disruptions could push prices even higher. Market observers also noted that competitive pricing among suppliers will be crucial in stabilizing the LPG market.
As households and small businesses continue to depend on LPG for cooking, the industry remains under pressure to balance affordability with supply constraints. The Nigerian government and industry stakeholders are being urged to monitor the situation closely to prevent a prolonged impact on consumers.
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members
