Abia Faces Soaring Cooking Gas Prices Amid Inflation
The high inflation rate in Nigeria, which stood at 32.15 percent in August 2024, has significantly impacted the cost of cooking gas, with Abia State among the regions hardest hit by the price surge.
According to data from the National Bureau of Statistics (NBS), Rivers recorded the highest average retail price for the refilling of a 12.5kg cylinder of Liquefied Petroleum Gas (LPG) at N17,086.36, followed by Cross River at N17,050.00, and Abia at N17,012.52 reflecting a sharp increase year-on-year and making Abia one of the states with the highest LPG prices in the country.
Despite the federal government’s removal of Value Added Tax (VAT) on cooking gas in October 2023, prices in Abia have continued to rise. Nationwide, LPG prices increased by 69.15 percent year-on-year, with oil-producing states like Abia, Rivers, and Cross River feeling the brunt of this surge.
The combination of supply challenges and rising inflation has worsened the cost of living for residents, further straining household budgets.
Smaller households in Abia have also been affected by the rising costs, with the average retail price for refilling a 5kg cylinder of cooking gas increasing by 7.62 percent on a month-on-month basis, from N5,974.55 in July 2024 to N6,430.02 in August 2024.
Speaking with THE WHISTLER, a local gas seller Mr Chikadibia said, “We’ve seen a drop in sales as customers become more price-sensitive. Many are now buying smaller cylinders or looking for alternatives like electric stoves to save money.”
He also noted, “Although we were able to keep our margins at first, the continuous rise in prices means we’re facing challenges. It’s a balancing act to stay competitive while maintaining profitability.”
For families who rely on cooking gas as a primary energy source, these price hikes are compounding the financial burden already created by inflation-driven increases in food and other essentials.
A consumer, Mr Chidera shared his experience, stating, “The increase in the price of gas does not just affect me directly as an individual who consumes it, but it indirectly affects my entire living.
“I’ve had to cut back on other things, like groceries and some non-essentials, just to make sure we can still afford the gas. Feeding is no longer a basic necessity but has become a luxury; even the poor man’s food, like garri, is no longer common to eat.”
The continuous rise in LPG prices in Abia and across Nigeria underscores the broader challenges facing the country’s energy sector. With over 209 trillion cubic feet of natural gas reserves, Nigeria’s inability to fully develop this resource has led to supply shortages and price volatility.
Until significant investments are made in the sector, residents in Abia and similar states will continue to endure the rising costs of energy.
Abia Faces Soaring Cooking Gas Prices Amid Inflation is first published on The Whistler Newspaper
