Cooking gas, also known as Liquefied Petroleum Gas (LPG), is currently experiencing scarcity in Lagos and several other states in Nigeria.
Other affected states include Katsina, Sokoto, Delta, Kaduna, and Kano, according to findings by newsmen.
Since late last month, the price of cooking gas has been continuously rising, causing scarcity and price increases.
In October alone, gas terminal owners increased the price by 66 per cent, with the price of 20 metric tons rising from N10 million to N16 million, despite the Nigerian Liquefied Natural Gas (NLNG) currently supplying 20MT of cooking gas to them at N9 million.
Market survey conducted by NewsNow over the weekend revealed that a 12.5kg cylinder of cooking gas now sells for between N13,500 and N14,000 on the black market.
Traders reported that gas plant owners now sell to them at between N1,100 and N1,200 per 1kg due to the limited availability of the product.
Scarcity of cooking gas has been observed in Katsina, Sokoto, Kaduna, and Kano, with residents resorting to panic buying and long queues forming at filling stations.
In Delta State, the price of cooking gas has increased to N1,100 per kg, compared to N800 per kg in October.
While there are no reports of scarcity in Abuja and Kwara, consumers have noted high prices and a decrease in the longevity of the gas. Residents have also reported prices ranging from N1,000 to N1,200 per kg in some areas.
The Nigerian Association of Liquefied Petroleum Gas Marketers has urged the public to patronize gas plants rather than black market vendors to avoid additional costs.
The Federal Government has summoned the Nigerian Midstream and Downstream Petroleum Regulatory Authority to address the rising prices and ensure market stability.
If not intervened, the price of a 12.5kg cylinder of cooking gas could reach as high as N18,000 by December, according to industry experts.
Terminal owners attribute the rising prices to forex rates and increasing prices of crude oil in the international market.
