Reports indicate that the price of cooking gas may have dropped by 16% owing to improved supply and distribution of the products across the country. According to Vanguard, a market survey carried out around Lagos and its environ indicated that the price of 12.5 Kg which was initially sold for N4, 500 in May 2017 has dropped to about N3, 800.
The report further disclosed that the price of 25 Kg which was N9, 000 in May also dropped to about N7, 600. The report quoted the Executive Secretary of Major Oil Marketers Association of Nigeria (MOMAN) as saying that “Unlike in the past, the supply and distribution of cooking gas have improved in the domestic market, thus resulting in stability. Despite the increase in demand, there would not likely be shortage and high prices in at least short term”.
Meanwhile, independent verification conducted by Vigil360 in Abuja confirmed the development. It was established that NIPCO Gas station around Jabi area and AA Rano filling Station, Asokoro were all selling the product at N3, 800 for 12.5 kg.
