Cooking gas prices in Lagos have skyrocketed, prompting a government clampdown on alleged price manipulation.
Cooking gas prices have more than doubled across Lagos, with a kilogramme of Liquefied Petroleum Gas now selling between N2,500 and N3,000, up from about N1,000 in August. Market checks show that refilling a 12.5kg cylinder in areas such as Amuwo Odofin and Surulere now costs over N25,000.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has ordered regulators to take “immediate enforcement action” against marketers allegedly hoarding products or inflating prices. “This situation is unacceptable. The government will not allow a few operators to exploit citizens,” he said, assuring that normal supply should resume within a week.
Officials linked the spike to disruptions caused by the recent PENGASSAN strike at the Dangote Refinery and maintenance work at the Nigeria LNG Train 4 facility. Despite the suspension of the strike two weeks ago, supply remains unstable, with depots in Apapa and Ikeja operating below capacity.