The price of Liquefied Petroleum Gas (LPG), otherwise called cooking gas, has dropped by 30 percent from N400 per kilogram (kg) in May to N280 per kg currently.
According to a market survey carried out by Daily Trust at different parts of the country, major retailers of the product such as NIPCO Plc and IK Gases Ltd sell at N280/kg while other small retailers sell at N300 per kg.
In the first half of this year, the product averagely remains at N400/kg in many parts of the country.
In Abuja and environs, the price of refilling a 12.5kg of LPG went as high as N6000 in the first quarter of the year. Also, LPG users spoken to have reported a drop in the price in Lagos, Kano, Kogi and Kaduna from what was obtained in the past.
LPG dealers attributed the drop in price to improved supply and distribution.
“There is more product coming in, that is the reason,” said President of the Nigerian Liquefied Petroleum Gas Association (NLGPA), Dayo Adeshina.
Hopefully too the use of Compressed Natural gas for vehicles will become more popular thereby reducing our dependence on fossil oils and improve forex position