CEM REPORT | With liquidified natural gas becoming the primary means of cooking in many households in Nigeria especially Lagos, the price continues to soar unprecedentedly.
The price of cooking gas has yet again soared by 25% across various markets in Lagos State.
According to Nairametrics latest Bi-monthly Market Survey, refilling a 12.5kg cylinder of cooking gas currently stands at iN10,000 compared to N8,000 recorded the previous week.
In an interview featured in the report, the price is expected to surge further as gas dealers lament over the continuous shortage in supply and rising demand for the commodity.
According to the report, Mr. Rufus, a gas tanker driver and distributor, said, the price of cooking gas increased due to its scarcity as a result of delayed vessels.
“I have been at the depot for the past 5 days and still not able to get gas as we kept waiting for the gas vessels. I had to come back because it is evident that no vessels are coming into the country any time soon,” he lamented.
“We should anticipate more increase in the price of the cooking gas as distributors are only selling what they have in store already,”.
Mr. Tobisolo, a major gas distributor, explained that depots in Nigeria have been rationing the use of vessels in bringing gas into the country, and according to him, only five of the 12 depots in the country had gas.
“The price of gas will continue to increase if actions are not taken either to start producing gas domestically or ramp up importation. We have only a few vessels that come into the country at a time, and can only supply a limited number of depots, which is why there are supply shortages of gas,”.
The report which comprising of four major markets in Lagos state; Oyingbo, Daleko, Mushin and Mile 12 further reveals that the price of a medium-sized bag of pepper has also experienced a 10.8% increase selling for an average of N21,750, against an average of N19,625 recorded two weeks ago.
Similarly, a 3.8-litre gallon of Mamador vegetable oil now sells for an average of N7,650, indicating an 18.1% increase compared to an average of N6,475 earlier in the month of May 2022.
Furthermore, a carton of full chicken rose by 8.9% to sell for an average of N21,500 from the previous average price of N19,750.
Similarly, a big bag of bush mango seed (also known as ogbono seed) now sells for an average of N128,000.
While, a big sized tuber of yam which initially selling for an average of N2,350 now sells for an average of N2,600, representing an increase of 10.6%
Although, the price of Oloyin beans of 50kg bag dropped by 12.8%, selling for an average of N33,125 compared to the initial average price of N38,000. Also a bag of white beans of the same size, which previously sold for an average of N55,825, now sells for an average of N53,250.
Also, a 50kg bag of white garri fell in price by 9.1% selling for an average of N12,275, compared to an initial average of N13,500.
Meanwhile, the price of some food items such as noodles, cocoa beverages, milk, semovita, pasta, amongst others retained their initial prices.