Nigerian households are currently grappling with intensified financial strain as the average cost of refilling a 5kg cylinder of Liquefied Petroleum Gas (LPG) hit a record high of ₦7,655.73 in March 2026. Data from the latest LPG Price Watch report released by the National Bureau of Statistics (NBS) indicates a sharp 12.60 percent month-on-month increase from the ₦6,799.18 recorded in February. The report further reveals that the price for a 12.5kg cylinder saw an even steeper rise, climbing 15.62 percent in a single month to settle at ₦19,652.83.

The surge in energy costs shows significant regional disparities across the federation, with Kaduna State leading the country with a 5kg refill cost of ₦9,212.21, followed closely by Lagos and Taraba. Conversely, Bauchi State recorded the most affordable rate at ₦6,295.40, while Nasarawa State saw the peak price for the 12.5kg cylinder at ₦23,418.12. On a year-on-year basis, the 12.5kg refill price has increased by 6.48 percent, reflecting a persistent upward trend that continues to threaten domestic stability.

Economic analysts have attributed this sudden spike to global economic uncertainty and geopolitical tensions in the Middle East, which have disrupted international oil supply routes and driven up costs. In Nigeria, these rising prices are expected to have a significant ripple effect, driving up transportation costs and the overall cost of living for millions who rely on gas as their primary fuel. While the NBS previously noted that inflation had shown signs of settling at 15.15% in late 2025, this recent volatility in the LPG market threatens to further squeeze already lean household budgets across the country.

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!