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NBS reports decrease in cooking gas prices

The prices of cooking gas have undergone a reduction of 6.07% compared to the figures from the previous month.

In its recent publication of the "Cooking Gas Price Watch" for May 2023, the National Bureau of Statistics (NBS) revealed a decline in the average price of a 5kg cooking gas canister. According to the report, the average price dropped from ₦4,642.27, recorded in April 2023, to ₦4,360.69 in May 2023.

This decrease represents a 6.07% reduction compared to the previous month's figures. However, when compared to May 2022, the average price reflects an 11.20% increase from ₦3,921.35.

Analysing the data on a state-by-state basis, the NBS found that Bayelsa had the highest average price of ₦5,016.67 for a 5kg cooking gas canister. Following closely, Zamfara reported an average price of ₦5,000.00, while Abuja recorded ₦4,900.00.

On the other end of the spectrum, Ondo reported the lowest average price at ₦3,795.83. Nasarawa and Edo followed with prices of ₦3,800.00 and ₦3,837.14, respectively.

The NBS report provides valuable insights into the fluctuations in cooking gas prices across the country, offering consumers and stakeholders essential information for decision-making.

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