The price of a 12.5kg cylinder of liquefied natural gas (LNG) or cooking gas has increased to N12,500 in Nigeria as the country celebrates its 63rd Independence anniversary.
This is a significant rise from the reported price of N10,000 at the end of last month.
Newsmen market survey in Lagos revealed that gas retailers have increased their prices accordingly.
Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, had earlier issued a warning that if the Federal Government did not take prompt action to regulate the activities of terminal owners, the price could rise as high as N18,000 by December.
He said: “Yes, the price is now N1,000 per kilogram but the government is yet to step in despite a meeting we had with the NMDPRA,” he said.
“We still buy a 20 MT truck at N14m at the depots. And the price of diesel has increased that it now costs N1.7m to take gas from Lagos to the North due to the high cost of diesel. If we sell here at N1,000 per 1kg, just imagine how much it would cost in the Middle East and North.
“What we pray for is for prices to come down so that the ordinary masses can benefit from the decade of gas policy of the Federal Government that seeks to make gas accessible and affordable for the common man.”
Olatunbosun regrettably informed newsmen on Monday that the government has not intervened in this crisis despite this warning.