The price of Liquefied Petroleum Gas, LPG, commonly known as cooking gas, has soared to an unprecedented level in Lagos, squeezing households and small businesses as the Federal Government moves to clamp down on suspected hoarders.
As of Monday, a kilogramme of LPG sold between N2,500 and N3,000 across several parts of the state, a steep increase from about N1,000 per kilogramme recorded in August.
In areas such as Amuwo Odofin and Surulere, the cost of refilling a 12.5kg cylinder has climbed to over N25,000, according to market checks.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in a statement issued by his spokesperson Louis Ibah, directed relevant regulatory agencies to take “immediate enforcement action” against marketers found hoarding products or inflating prices.
“This situation is unacceptable. The government will not allow a few operators to exploit citizens,” Ekpo said, adding that normal supply is expected to resume within a week.
Officials attributed the sudden spike to two major disruptions, the recent PENGASSAN strike at the Dangote Refinery and ongoing maintenance work at the Nigeria LNG Train 4 facility, both of which have significantly reduced gas supply to the domestic market.
Although the strike was suspended nearly two weeks ago, supply levels have yet to stabilise. Several gas depots in Apapa and Ikeja reportedly operated below capacity on Monday, with long queues of tankers waiting to load.
Data from the National Bureau of Statistics, NBS, shows the sharp reversal in price trends. In August 2025, the average retail price for a 12.5kg cylinder fell by 21.42% to N16,195.07, before the recent surge wiped out those gains.
