Cooking gas price rises by 40.5 per cent in one year

to N6,521.58 in April 2024, an increase of 40.48 per cent in one year. to N6,521.58 in April 2024, an increase of 40.48 per cent in one year.

The month-on-month price difference was 6.29 per cent above the price of N1,354.4 recorded in March this year. Bauchi recorded the highest average price for refilling a 5kg cylinder of cooking gas at N7,000, followed by Kano at N6,998.67, and Yobe with N6,962.5, while Adamawa recorded the lowest price at N5,470, followed by Enugu and Katsina with N5,973.53 and N5,981.82 respectively.

ActionAid Nigeria has warned that the Tuesday increase in the monetary policy rate by the Central Bank of Nigeria would lead to higher borrowing costs for businesses and small and medium-sized enterprises and stifle economic growth. Nigerians continue to pay more as the National Bureau of Statistics reported, yesterday, that the average retail price of automotive gas oil increased by 68.01 per cent in the past year.

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