ALLMEDIA 24
In a welcome development, the price of cooking gas has dropped significantly, bringing relief to Nigerians who have been struggling with the high cost of the essential commodity. According to a market survey, the price of liquefied petroleum gas (LPG) has crashed to ₦900 per kilogramme, down from ₦1,300 per kilogramme just weeks ago.
Dealers attribute the price drop to improved supplies from various depots and the relative availability of foreign exchange for import. The removal of value-added tax (VAT) by the Nigerian government has also been cited as a major factor in the price crash.
A manager at Gasland depot in Lagos confirmed the development, stating that the depot sold the product at ₦1,300 per kilogramme two weeks ago but has since crashed the price to ₦900. The price of 12.5kg has also dropped to around ₦10,000, down from ₦14,300.
This development comes as a relief to many Nigerians who have been struggling with the high cost of cooking gas. The price drop is expected to have a positive impact on the economy, as it will reduce the burden on households and businesses that rely on cooking gas for their daily operations.
