The common value of Liquefied Petroleum Fuel (Cooking Fuel) rose by 3.32% month-on-month, growing from N6,699.63 recorded in September 2024 to N6,915.69 in October 2024.
That is in line with the most recent Cooking Fuel Worth Watch report from the Nationwide Bureau of Statistics (NBS) as seen by Nairametrics.
On a year-on-year foundation, the value of cooking gasoline rose considerably by 51.58%, from N4,562.51 in October 2023 to N6,915.69 in October 2024.
The info additionally Signifies that the northeast area recorded the best common value, making residents in that area pay essentially the most for cooking gasoline.
In line with the report, the typical value of a 5kg cylinder of LPG within the North-East stood at N7,319.03.
Conversely, the north-west area had the bottom common value at N6,703.95, which is under the nationwide common value.
State-by-State Evaluation
The report additional offered a state-by-state breakdown for October 2024.
- Borno recorded the best common value for refilling a 5kg cylinder of cooking gasoline at N7,939.29, adopted by Yobe at N7,580.00 and Benue at N7,578.00.
- However, Katsina recorded the bottom common value at N6,270.00, adopted by Zamfara at N6,410.71 and Delta at N6,427.78.
The value of 12.5kg cooking gasoline
The info additionally revealed that the typical retail value for refilling a 12.5kg cylinder of LPG elevated by 2.58% month-on-month, rising from N16,313.43 in September 2024 to N16,734.55 in October 2024.
- On a year-on-year foundation, the value elevated by 58.68% from N10,545.87 in October 2023.
- When it comes to state-by-state evaluation, Rivers recorded the best common value for refilling a 12.5kg cylinder at N17,895.00, adopted by Osun at N17,739.06 and Benue at N17,731.25.
- Nonetheless, Katsina recorded the bottom value at N14,725.00, adopted by Nasarawa at N15,390.55 and Adamawa at N15,474.21.
- The zonal evaluation confirmed that the south-south area recorded the best common value for refilling a 12.5kg cylinder at N17,114.67, adopted by the south-east at N16,9061.
- In the meantime, the north-central area had the bottom common value at N16,411.19.
Why this issues
- The month-to-month rise in 5kg cooking gasoline costs provides a compounded burden to households already grappling with strained budgets resulting from inflationary pressures pushed by increased meals and transport prices.
- This persistent improve over the previous 12 months could push weak people and households to change from gasoline to firewood or different polluting vitality sources for cooking and family actions.
- Such a development would hinder ongoing efforts to remove the usage of firewood and coal for cooking in Nigeria.
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