Nigerians’ level of living has gotten poorer over the past year as the cost of necessities has risen steadily.
The average retail price for refilling a 5 kg cylinder of liquefied petroleum gas (cooking gas) increased by 103.92 percent from N2,068.69 in June 2021 to N4,218.38 in June 2022, according to data from the National Bureau of Statistics (NBS), which was released yesterday. The price of 1 kg of beans (white, black eye, sold loose) increased on an annual basis by 24.17 percent from N431.79 in June 2021.
According to the data, the price of LPG jumped 7.57 percent month over month from N3,921.35 in May 2022 to N4,218.38 in June 2022.
In a recent open letter to the government, members of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) raised the alarm that the price of cooking gas was steadily rising above the means of the average Nigerian, forcing many people to use charcoal and firewood for their cooking needs and having a negative impact on the environment.
Customers are already paying more than treble what they were in January, according to NALPGAM, and that is not good for a nation that wants to promote gas use for cooking among its residents.
According to the NBS report’s examination of state profiles, Gombe had the second-highest average price for refilling a 5 kg LPG cylinder at N4,566.67, and Niger had the third-highest average price at N4,540.00. Adamawa had the highest average price.
The lowest average price was observed in Zamfara, however, at N3,700.00. Yobe and Kano were next, with N3,820.00 and N3,875.00, respectively.
In a similar incident, the NBS reported that the average price of 1 kg of beans (white, black eye, sold loose) increased year over year by 24.17 percent from N431.79 in June 2021 to N536.17 in June 2022. This grew from N524.70 in May 2022 by 2.19 percent month over month.
On an annual basis, the cost of a kilogram of yam tubers climbed from N294.29 in June 2021 to N384.48 in June 2022, a 30.64 percent increase. In June 2022, the average cost of this item grew by 3.29 percent month over month.
Similar to this, the average cost of 1 kg of boneless beef increased by 26.83 percent annually from N1,639.96 in June 2021 to N2,079.93 in June 2022. Additionally, the average cost of one bottle of groundnut oil in June 2022 was N1,062.90, up 42.07 percent from N748.16 in the same month the previous year. From N1,040.88 in May 2022, it increased 2.12 percent month over month.
On a year-over-year basis, the average price of 1 kg of rice (locally sold loose) increased from the value reported in June 2021 (N401.82) to N488.68 in June 2022 by 21.62 percent. It climbed from N447.51 in May 2022 to N488.68 in June 2022, or a gain of 9.20 percent, on a monthly basis.
In a similar vein, the average price of one bottle of palm oil went from N609.21 in June 2021 to N870.90 in June 2022, a 42.96 percent rise. Additionally, it expanded 2.77 percent from one month to the next.