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Petrol price drop pushing cooking gas costs downwards – IPMAN

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The Independent Petroleum Marketers Association of Nigeria has explained how the reduction in the price of Premium Motor Spirit pushed the price of liquefied petroleum gas, popularly known as cooking gas, down.

This comes after due observation that the cost of refilling a 12.5-kilogramme cylinder of cooking gas reduced to N16,250 from N17,500 in some retail outlets in the Federal Capital Territory, Abuja.

This means that 1kg of cooking gas is now sold for N1,300, from N1,400 last month in Abuja.

Meanwhile, in filling stations or gas stations, 1kg of cooking gas is sold between N1,050 and N1,150, compared to N1,200 and N1,400 in previous months, depending on the location in Abuja.

In Lagos State, the price of cooking gas fell to approximately N13,750.00 as of April 2025, depending on the area, from N17,283.58 for 12.5kg in November last year, according to National Bureau of Statistics data.

The downtrend in the price of LPG is also experienced in Edo, Delta, Niger, and other states in Nigeria, with consumers having to save at least N1,000 for refilling either a 12.55kg cylinder or a smaller quantity.

The development follows the recent drop in the price of petrol to between N910 and N950 per litre from N940 and N970 by Nigerian National Petroleum Company Limited retail outlets, petrol retailers, and retail partners of Dangote Refinery.

According to the Nigerian Midstream Downstream Petroleum Regulatory Authority, NMDPRA, the country consumes 1.4 million metric tonnes of LPG annually.

Accordingly, this translates to 1.4 billion kilogrammes. At the current average price of N1.4 billion per kilogramme, consumers will spend N1.82 trillion yearly, a reduction from N1.96 trillion.

While Nigeria produced 600,000 tonnes of cooking gas locally, the country imported 800,000 tonnes to meet the 1.4 million metric tonnes total yearly demand.

Reacting to the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said in an interview that the marginal drop in the price of LPG is expected following the reduction in the price of petrol.

According to him, alternative energy sources in the country’s downstream sector have impacted the price of competing products.

“When the petrol price was high, liquefied petroleum gas was used as an alternative to fuel for some generators.

“Now that the price of petrol is going down, the LPG marketers and producers have dropped their prices in line with the international factor and exchange rate.

“The alternative choice of energy in the downstream sector has impacted the prices of competing petroleum products. The pricing of petroleum products affects the behaviours of consumers.

“That is the beauty of deregulation.

“The price may drop further in the coming month depending on the international and domestic market matrix,” he said.

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Business

AfCFTA : Nigerian Goods In High Demand In Africa, says Minister

On a trade mission to Botswana with about 11 Nigerian businesses, one of them immediately got an order of 6,000 T-shirts to be supplied there.

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The Minister of Trade, Industry and Investment, Dr Jumoke Oduwole, has said that Nigerian goods continue to remain competitive and, in particular, high demand on the continent.

The minister disclosed this yesterday in Abuja at the 2026 Third Quarter meeting of the African Continental Free Trade Area (AfCFTA) Central Coordination Committee (CCC).

She said, ” I think that a lot of Nigerians have the perception that Nigerian goods are not competitive on this continent. Nigerian entrepreneurs have shown that they can compete anywhere in the world, and are doing particularly well in the rest of Africa, and this is demonstrated by our non-oil exports, which have gone up exponentially, and it’s due to the exports of Nigerian goods across the African continent

She said on a trade mission to Botswana with about 11 Nigerian businesses, one of them immediately got an order of 6,000 T-shirts to be supplied there.

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After South Africa, Kenya Cracks Down on Foreign Traders, Retailers

Ruto directed authorities to begin shutting down small businesses operated by foreign nationals from September 7, saying hawking and small-scale retail should be reserved for Kenyans.

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Kenya is beginning a crackdown on foreign nationals operating small retail shops and engaging in hawking, after President William Ruto directed authorities to shut down such businesses from September 7.

Ruto announced this on September 2 while addressing micro, small and medium-sized enterprises, MSME. traders at State House in Nairobi.

He said foreigners should not compete with Kenyans in businesses such as hawking and small retail, while foreign investment was welcome in activities requiring greater capital.

Ruto directed authorities to begin shutting down small businesses operated by foreign nationals from September 7, saying hawking and small-scale retail should be reserved for Kenyans.

He said the government would take administrative action while the Parliament of Kenya considers the proposed Local Content Bill, 2025.

He also directed National Assembly Majority Leader Kimani Ichung’wah and Trade Cabinet Secretary Lee Kinyanjui to accelerate the bill’s passage through Parliament.

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Business

NAFDAC Goes After Chinese Logistics Firms Over Products Counterfeiting

Chinese people (counterfeiters) own the logistics companies which they used to bring these (fake goods) things.” NAFDAC said it has been shutting down the logistics companies.

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The National Agency for Food and Drug Administration and Control (NAFDAC) has revealed that Chinese counterfeiters now living in Nigeria are behind the proliferation of fake goods in Nigeria.

NAFDAC’s Director of Investigation and Enforcement, Martins Iluyomade disclosed that recent investigations found Chinese counterfeiters, previously operating externally, have set up plants and logistics channels inside the country.

How They Operate

He said, “Before, to fake a product, you needed to go to China to bring it. Now, you don’t need to go. They are here (in Nigeria) with us. They are the ones who will identify the product that will be moving, send it to their country (China), and then come here and distribute it to our people (Nigerians) without having to travel, thereby worsening the production, distribution and sale of adulterated, harmful and unwholesome products.

Iluyomade, describing it as a “new trend making it (fake goods situation) look this serious,” noted that NAFDAC discovered the “Chinese people (counterfeiters) own the logistics companies which they used to bring these (fake goods) things.” NAFDAC said it has been shutting down the logistics companies.

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