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Retailers, consumers lament as cooking gas price soars to N500/kg

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The price of Liquefied Petroleum Gas, also known as cooking gas, has skyrocketed to a record high of N500 per kilogramme, forcing some Nigerians to turn to alternatives such as charcoal, kerosene and firewood amid high unemployment and poverty levels in the country.

The price of cooking gas has risen by more than 60 per cent since early December last year on the back of the recent devaluation of the naira and lingering inadequate domestic supply of the fuel.

It was gathered that as cooking gas prices maintained an upward trend in recent months, more Nigerians, especially in the rural and semi-urban areas, have been discouraged from using the fuel for cooking.

It was also learnt that some Nigerians who do not have prepaid electric meters are now increasingly using electric cookers in a bid to reduce their cooking gas usage.

Recall that the price of 20 metric tonnes of LPG sold to marketers in the country had risen by over 29 per cent in the past two months to as high as N5.5m from N4.25m on November 20.

The price of 20MT of LPG sold by terminal operators and importers surged by 30.91 per cent in six months to N7.2m on Thursday, according to LPG in Nigeria, an advocacy organisation championing the use of the fuel in the country.

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A gas plant in Lagos refilled a 12.5kg cylinder for LPG for N5,200 on July 17, up from N4,400 on June 17 and N3,200 in November/December 2020.

The National Chairman of Liquefied Petroleum Gas Retailers Branch of NUPENG, Mr Chika Umudu, attributed the price hike to the country’s high dependence on importation for LPG.

“As the dollar is appreciating against the naira, the price of LPG is increasing,” he added.

In May, the Central Bank of Nigeria devalued the naira as it adopted the NAFEX exchange rate of N410.25 per dollar as its official exchange rate. The naira traded at 503/$1 at the parallel market on Thursday.

Umudu suggested that the Nigerian LNG Limited, which accounts for more than 40 per cent of the LPG supply volumes in the country, should be supplying the domestic market in accordance to the demand, rather than having a fixed quantity per annum.

He said, “The increase in cooking gas price, which started last December, doesn’t speak well of the policy direction of the government.

“As much as I will not advocate for subsidy the way it is being done with petrol, I think there are ways the government could make cooking gas affordable to Nigerians.

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“People in rural areas and semi-urban areas, who are even the major target of LPG expansion, are beginning to dump their cylinders. It is not a good development.

“Cooking gas sales have dropped by 50 per cent at my outlet in Anambra State. People are now using firewood, sawdust and charcoal.”

According to Umudu, in Lagos and some other major cities, some canteens and restaurants are now turning to charcoal and firewood because they cannot factor the hike in cooking gas appropriately into their costs.

“Government should work out a framework with NLNG to meet up with local demand and equally encourage other multinational companies to supply the domestic market so that we stop talking about importation of LPG,” he added.

A resident of Oworonshoki, Lagos, Mr Adeleke Adeshina, said the increase in the price of cooking gas had affected the quantity of food sold to customers by food vendors.

He said, “I filled my gas cylinder two months ago for N400 per kg. Last Saturday, I paid 500/kg to the man who sold it to me.

“The recent increase affected how food vendors sell their food to us. They now sell their food based on the price at which the cooking gas is bought for.”

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The Executive Secretary/Chief Executive Officer, Nigerian Association of LPG Marketers, Mr Bassey Essien, said with 20MT of LPG being sold for over N7m, marketers were spending what they used in buying 40MT some months ago to get 20MT.

“We are not happy about the price hike,” he said, stressing the need for frequent supply of LPG by the NLNG. “It is only one vessel they (NLNG) have, and it supplies Lagos and Port Harcourt; so the replacement cycle is longer,” he added.

According to him, since the country depends more on imports for the commodity, the demand for scarce foreign exchange by marketers to import the product will cause price hikes.

“There is a need for the domestic supply to be increased so that we can have less dependence on importation,” Essien added.

The NLNG said in September that its board of directors had approved an increase in its dedicated volume of LPG supplied to the domestic market from 350,000 metric tonnes per annum to 450,000 mtpa.

 

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Roll up sleeves, make changes wherever you can, Obama tells Democrats after party’s historic win

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Former US President Barack Obama has called on Democrats to use their control of Congress to make changes and lay the groundwork for the future.

Democrats won full control of the US Congress in a sweeping mid-term rout Tuesday, with a landslide of upsets that delivered a crushing rebuke of President Donald Trump and his Republican Party.

Obama said the victory was a “clear message” from the American people.

“They want a politics that brings people together rather than divides them, and leaders who offer concrete solutions to the challenges they face,” he said.

Obama threw his political weight behind Democrats in key battleground states, rallying voters to rein in Trump and casting the mid-terms as a crucial chance to curb his administration’s excesses.

“These results were only possible because outstanding candidates stepped forward in every region of the country — including in areas once considered long shots,” Obama said in a statement.

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“They came from different backgrounds and represented a range of political perspectives, but were united by shared values, a belief in public service, and a commitment to putting the people of their districts and states first.”

Obama noted that the Trump administration has another two years in office, “our job now is to roll up our sleeves, make changes wherever we have the power to do so, prevent further damage, and lay the groundwork for the future”.

Trump watched returns come in from the White House East Room, where the mood was described as tense.

He was silent on Truth Social for three hours Tuesday night as Democrats kept flipping seats blue.

He later posted: “I wasn’t on the Ballot and if I was, we would have won IN A LANDSLIDE! Thank you for your attention to this matter.”

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Good morning! Nigerian Newspapers Headlines: Obi campaign: OK Movement tackles NDC, Obidients

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1. A fresh disagreement has emerged within the political groups backing Peter Obi’s 2027 presidential ambition, as the United Kingdom Coordinator of the OK Movement, Adebayo Brown, accused leaders of the Nigeria Democratic Congress Presidential Campaign Council and the Obidient Movement of fuelling divisions among supporters.

The accusation followed a disagreement over claims that Obi, the NDC presidential candidate, and his running mate, Rabiu Kwankwaso, had dissociated themselves from the OK Movement.

2. Southwest All Progressives Congress (APC) leaders yesterday resolved to mobilise the six states to give an overwhelming number of votes to President Bola Ahmed Tinubu in the January 16  election. The leaders, who met in Lagos, decided to work assiduously to deliver votes that will surpass what the President got in the 2023 election i

3. The Economic and Financial Crimes Commission has uncovered an illegal oil refinery allegedly operated by Chinese nationals in the Ogere area of Ogun State. The commission said the facility was discovered on Saturday, October 31, 2026, by operatives of its Lagos Zonal Directorate 2 following intelligence and surveillance on the activities of illegal sludge oil refiners.

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4. The National Youth Service Corps has identified four irregularities in a certificate linked to former Minister of Innovation, Science and Technology, Uche Nnaji, insisting that the document was not issued by the corps. An Assistant Director in the NYSC Department of Certification, Yusuf Jumare, disclosed this on Tuesday while testifying as the second prosecution witness in the alleged certificate forgery and money laundering case against Nnaji before the Federal High Court in Abuja.

5. The National Assembly is set to transmit the proposed State Police Bill to President Bola Tinubu for assent after completing the authentication of approvals secured from 28 state Houses of Assembly. The Clerk to the National Assembly, Kamoru Ogunlana, disclosed this in a statement on Tuesday, confirming that the number of state legislatures that had approved the proposed constitutional amendment exceeded the constitutionally required threshold of 24 states.

6. The Ondo State Police Command has uncovered a suspected counterfeit currency production site in Odigbo Local Government Area of the state, arresting one suspect and recovering three bags of suspected fake United States dollar notes. The command said the operation took place on October 29 at Kiniso Village, via Ajue, following investigations into a complaint by a man who allegedly received counterfeit dollars from two men during a currency exchange transaction.

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7. The Department of State Services, DSS, has dismissed allegations by former Vice President and African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, that it is organising protests to disrupt political activities in Sokoto State. The Service said its operatives had been providing security protection to political candidates across party lines, citing the evacuation of the ADC governorship candidate in Sokoto State, Mannir Daniya, during an attack on October 31, 2026.

8. The African Democratic Congress has kept the venue of its presidential campaign rally in Sokoto State secret ahead of Wednesday’s kickoff, citing security concerns amid allegations of attempts to disrupt the event. The party said it was taking precautionary measures to avoid being caught unawares, following reports of a possible plot to frustrate the rally scheduled for November 4.

9. The Lagos State Police Command has uncovered a suspected high-tech indoor cannabis farm at a residential property in Apapa, Lagos State, arresting a Polish national and a Nigerian in connection with the discovery. It was learnt that the suspects were identified as Thomas Razvickas, 49, a Polish national, and James Chisome, 36, a Nigerian. Both reportedly reside at the property where the facility was discovered.

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10. The Director-General of the Department of State Services, DSS, Oluwatosin Adeola Ajayi has set free and approved an initial payment of N20 million to four suspects, out of which each suspect is to receive five million Naira as compensation after being cleared of alleged membership of the proscribed Indigenous People of Biafra, IPOB.

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Tinubu deserves credit for bringing Nigeria back from the brink, says Emir Sanusi 

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The Emir of Kano, Muhammadu Sanusi II, has said that President Bola Tinubu deserves credit for bringing Nigeria’s economy back from the brink, citing improvements in economic growth, inflation, foreign reserves, and export diversification.

Emir Sanusi, who gave the commendation while speaking on Tuesday at the Oxford Global Think Tank conference convened by Arunma Oteh, said the country is beginning to lay the foundations for economic stability, although significant challenges remain.

“I’m not a fan of politicians, but we need to give credit to President Tinubu’s administration for bringing us back from the brink,” he said.

Sanusi, a former Central Bank of Nigeria (CBN) governor, said the economy grew by 4.48 percent in the second quarter (Q2) of 2026, describing the performance as progress compared with the average growth recorded during the administration of former President Muhammadu Buhari.

“GDP in Q2 2026 was at 4.48 percent. It’s not as high as it was under the Yar’Adua/Jonathan government, but during the Buhari years, the economy grew by 0.9 percent. Today it’s at 4.5 percent. That’s progress,” he said.

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Sanusi also noted the decline in inflation from about 30 percent to 14.6 percent, adding that it was projected to fall to 12.5 percent by the end of the year.

He said Nigeria’s gross domestic product (GDP) per capita, measured in dollar terms, had increased by 47 percent since 2023.

According to the emir, “If we continue at this rate, by the end of next year, GDP per capita will be back to where it was in 2005”.

He also cited the country’s foreign reserves, which he put at $55 billion, but cautioned that a significant portion of the inflows was driven by foreign portfolio investments (FPI), which are volatile.

He attributed the continued inflows partly to high oil prices amid the war in the Strait of Hormuz and the attractive returns available to investors in Nigeria.

“Our reserves are at $55 billion, and yes, a lot of it is driven by portfolio flows, which are volatile,” he said.

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He said high oil prices and returns on Nigerian investments have encouraged foreign investors to maintain their exposure to the country.

On diversification, Sanusi said “20 percent of Nigeria’s exports were coming from the Dangote refinery”, describing the development as evidence of progress beyond the country’s traditional export sources.

“There are clearly foundations being laid for stability. It’s not the end, but the first step towards stability,” he said.

The emir, however, criticised the Tinubu administration’s communication of its economic policies, saying the government appeared to interpret criticism and suggestions as attacks.

“This government doesn’t express itself properly. It sees every suggestion and contribution it does not like as an attack, and it doesn’t have good spokespersons,” he said.

Despite his reservations about the government’s communication, Sanusi said the administration deserved recognition for the economic gains recorded so far.

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