Nigeria: Cooking gas prices hit record high in 2024, 3.7x the price in 2016

The average price of cooking gas in Nigeria has increased significantly, from ₦370 per kg in early 2016 to ₦1,390 per kg in June 2024.

After prices peaked at nearly ₦1,500 in May 2024, they fell by 6.1% in June.

The contributing factors to the increase include global energy fluctuations, naira depreciation, supply chain disruptions, and changes in domestic policies.

Here are the average prices of cooking gas in Nigeria since 2016.

Source:

National Bureau of Statistics

Period:

2016 - 2024
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A 12.5kg cooking gas refill now costs over 6x what it did in 2016
  • A 12.5kg refill is now over 6x costlier than in 2016.
  • The April 2026 price reached ₦22.4k, up from ₦3.7k in January 2016.
  • Prices stayed fairly stable until 2021, then surged sharply.
  • Fresh reports suggest gas prices kept rising after April 2026.
Every food item tracked has at least doubled in price since May 2023
  • Every comparable food item tracked is now at least twice as expensive as it was in May 2023.
  • Nearly half of the selected food items have more than tripled in price since the month before fuel subsidy removal.
  • Unripe plantain recorded the steepest increase, rising by 469% between May 2023 and April 2026.
  • Ripe plantain, yam tuber, and fresh tilapia also saw extreme increases of more than 300%.
  • Even the slowest-rising staples, including frozen chicken, beans, gari, and maize, still more than doubled in price.
Healthy diet costs rose fastest in Nigeria’s North-West over two years
  • Healthy diet costs rose 49% nationally in two years.
  • North-West states recorded the fastest increases.
  • All seven North-West states rose above the national average.
  • Katsina and Kogi recorded the steepest increases, at 98%.
  • Akwa Ibom had the lowest increase, at 5%.
One adult’s monthly healthy diet takes two-thirds of minimum wage
  • One adult’s healthy diet takes 66% of Nigeria’s minimum wage.
  • The national average monthly cost is about ₦46,230 per adult.
  • Ekiti has the highest burden, at 90% of minimum wage.
  • Six states require over 80% of minimum wage for one adult’s healthy diet.
  • Adamawa has the lowest burden, at 43%.
Nigeria's domestic gas market is absorbing an increasing share of the country's gas output
  • Domestic share rose steadily from 34% in 2021 to 45% in 2025, gaining eleven percentage points in five years.
  • Export share fell from 66% to 55%, losing ground every year without a single recovery.
  • 2023 was the sharpest single-year shift; domestic share jumped seven points, from 36% to 43%.
  • The gap between export and domestic share has narrowed from 32 to just 10 points.
The basket of food that cost ₦100k in January 2025 cost approximately ₦114k in August
  • Food prices rose roughly 13.9% from January to August 2025, according to the rebased Consumer Price Index (CPI) from the National Bureau of Statistics.
  • Month-on-month inflation for food fluctuated, with some months seeing sharper increases than others.
  • Using January as a baseline, the purchasing power of money for food declined steadily, meaning households need more naira to buy the same items.
  • Food carries a large weight in the CPI basket, making it a major driver of overall inflation and cost-of-living increases.
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