The price of cooking gas has risen by 100 per cent in Nigeria’s domestic market between April 2016 and April 2017 as a result of increased demand, supply disruptions and foreign exchange issues, Vanguard reports.
A market survey over the weekend showed that the price of the 5kg rose from N1, 000 in April, 2016 to over N2, 000 in April, 2017. It showed that the prices of 10 kg and 12.5 kg which stood at N2, 000 and N2, 500 in April 2016 have risen to N4, 000 and N5, 000 respectively.
The market survey showed that the 25 kg and 50 kg which prices stood at N5, 000 and N10, 000 in April 2016 have hit the roof at N10, 000 and N20, 000 respectively. Investigations showed that the situation was worsened when pirates hijacked a vessel which left Port Harcourt, Rivers State to discharge 13,000 tonnes of LPG in Lagos recently. The development, it was gathered, culminated in shortage of the product, especially in Lagos and its environs.