Nigerians are beginning to experience relief in the cost of cooking gas following a significant increase in supply, with industry stakeholders expressing optimism that prices could decline even further in the coming weeks.
Latest data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that the daily supply of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, rose by 24 percent month-on-month to 5.1 metric tonnes per day in June 2026, compared to 4.1 metric tonnes per day recorded in May 2026.
The figures, contained in the regulator's June 2026 Fact Sheet, also revealed that domestic consumption fell during the same period. Average daily LPG consumption declined by about 10 percent to 4.1 metric tonnes per day in June, down from 4.5 metric tonnes per day in May.
The increase in supply has been accompanied by a sharp reduction in wholesale prices. According to industry data, the ex-depot price of cooking gas dropped by 28.4 percent month-on-month to N20.4 million per 20 metric tonnes in July 2026, compared to N26.2 million per 20 metric tonnes in June.
The lower depot prices have begun reflecting at retail outlets across the country, particularly in Lagos. Checks at accredited gas plants showed that the cost of refilling one kilogram of cooking gas now ranges between N1,100 and N1,400, depending on location. This represents a significant reduction from the N1,900 to N2,400 per kilogram recorded in June.
Speaking with Vanguard, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Mr. Inyang Edu, attributed the decline in prices to engagements between the Federal Government, regulators and industry stakeholders aimed at improving product availability.
According to him, depot prices fell to N20.4 million from N22.2 million per 20 metric tonnes, creating room for marketers to reduce prices at retail outlets across the country.
He explained that the improvement followed several meetings with government authorities, during which marketers and depot operators were encouraged to import LPG based on approved supply margins to ensure steady product availability.
"Before now, we got an intel of possible artificial scarcity. Some marketers hoard their products and store them at their plants, some gave an excuse of selling to their clients. This pose a risk of artificial scarcity as the business is dependent on demand and supply.
When there is limited supply of the product, the demand for it will be high which results in scarcity. This was why we made noise to the Federal Government and its agencies, marketers now have an order to sell depending on their specific supply margin," Edu said.
He also disclosed that supplies from Dangote Refinery and the Nigeria LNG (NLNG) remain stable, while additional shipments from other suppliers are expected to further strengthen market availability.
According to Edu, the industry will continue to engage the Federal Government and other stakeholders to ensure consumers benefit from lower prices.
"We will continue to appeal to the Federal Government and stakeholders for the price to drop more. We are hopeful the price of cooking gas will drop further in the coming weeks," he added.
The latest figures suggest that improved supply, stronger market oversight and increased product availability are beginning to ease pressure on cooking gas prices, offering some relief to households and businesses that rely on LPG for domestic and commercial use.