SPECIAL REPORT: How soaring cooking gas prices are squeezing Nigerian households, businesses

Soaring cooking gas prices are placing a significant burden on Nigerian households and businesses, forcing many to adapt to drastically higher costs. Lolade Fayemi, a fashion designer in Lagos, recounted her dismay at seeing the price of a 6kg gas cylinder jump from approximately ₦1,700 per kilogram to ₦2,500 within a single week. Unable to afford the full cylinder, she could only purchase 1 kilogram, lamenting the expense and the short duration the gas would last.

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The price is ridiculous. You still spend money on transportation to the gas station, and the gas may not even serve you for a week.

This experience is shared by millions across Nigeria, where the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged. Energy experts point to a confluence of factors, including supply disruptions stemming from international conflicts involving Iran, the United States, and Israel. These global issues are compounded by persistent domestic challenges such as inadequate infrastructure, unpredictable government policies, and Nigeria's heavy dependence on imported LPG.

While a survey by PREMIUM TIMES in July indicated a modest easing of prices from their late June peak, consumers report that relief has been minimal. Cooking gas remains significantly more expensive than just two months prior. Across Nigeria's six geopolitical zones, LPG prices climbed from an average of ₦1,100–₦1,350 per kilogram in April and May to between ₦1,700 and ₦2,200 in late June, with some retailers charging as much as ₦2,500.

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When there is scarcity and demand is high, prices increase because consumers have little choice.

By early July, prices had moderated to a range of ₦1,250 to ₦1,800 per kilogram. However, many households are now resorting to purchasing smaller quantities, delaying refills, or returning to traditional cooking methods like using firewood and charcoal. In Lagos, the scarcity created a sellers' market, with retailers attributing the spike to shortages at coastal depots and market volatility driven by Middle East tensions. Retailers described accessing supplies as dependent on personal relationships during the peak of the crisis.

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The few marketers that had products sold mainly to people they knew. Getting even one truck became difficult.