Residents in Lagos and some parts of Ogun State are calling on the government and its regulatory bodies to save them from the grip of marketers selling Liquidfied Petroleum Gas, popularly known as cooking gas, at exorbitant price despite its abundant supply and reduction in gantry price.
In what they described as rip-off, the consumers alleged that despite the downward adjustment of the gantry price to N950 per kilogram (kg) from N980, retail outlets still sell the product between N1, 400 and N1,500 per kg.
These represent 47.3per cent and 57.8 per cent increase.
Lamenting the overpricing on Tuesday, a resident in Ojota, Lagos, Mr Fidelis Oluwagbemi, said that cooking gas sells at N1,500 per kilogram in the area after the price has been reviewed downward due to abundant supply.
He recalled that the same quantity was even sold for over N2,000 in April 2026, querying when marketers would stop the exploitation of Nigerians.
He decried the current high cost of living in the country, urging the government to protect consumers against excessive exploitation by marketers.
Another person, who resides in Arepo, Ogun State, Mrs Ewaoluwa Emmanuel, said she bought cooking gas at N1,450 per kg in one of the retail outlets in the neighbourhood last week
Another consumer who did not want her name in print said she bought N1,350 per kg at a gas station in Magboro, Ogun State, while retail outlets were selling N1,400.
When contacted, President, Nigerian Association of Liquified Petroleum Gas Marketers (NALPGAM), Mr Edu Iyang, did not pick his call nor respond to the message sent.
Also, when called, Executive Secretary /CEO at NALPGAM, Mr Bassey Essien, said he was in an urgent meeting, promising to reply later.
The reductions ranged from N15 to N30 per kilogram.
Dangote Refinery, which led this price review, has adjusted its price from N980/kg to N950/kg, prompting other depot owners and marketers to lower their rates across Nigeria.
The latest reduction places the refinery’s LPG price at a level that could encourage further downward movement across the supply chain, particularly if marketers pass the savings on to consumers.
Several major operators have already reduced their ex-depot prices.
The adjustments came swiftly after Dangote Refinery’s latest price reduction, highlighting the refinery’s growing influence on domestic petroleum product pricing.
At the retail end of the market, however, consumers are still paying considerably more than the latest depot prices.
LPG sold at filling stations operated by Ranoil, the Nigerian National Petroleum Company and Shafa was priced between N1,300 and N1,450 per kilogram, according to a report.
Other retailers in Abuja and surrounding areas were selling at about N1,500 per kilogram, the same level recorded in July.
The difference between depot and retail prices means that the full impact of the latest reduction may take some time to reach households, depending on transportation costs, distribution margins and local market conditions.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that LPG imports surged by about 1,400 per cent in June, indicating a sharp increase in imported supplies as the country sought to meet domestic demand.
COURTESY: tribuneonlineng.com
