The prices of commodities and other domestic products in Nigeria are really on the increase every day. Few weeks ago the price of Liquefied Petroleum Gas (LPG) also known as cooking gas went high in Lagos, Abuja, and some other states because of the supply hitches.
The price of the 12.5kg LPG went from 3,000 to N4,200 in Shomolu and other areas in Lagos state. Apart from the problem of cost, another issue being faced is the problem of scarcity.
Speaking about the new development, a retailer, Lucky Nwachukwu, in Shomolu, said: “Sadly, the business of cooking gas is not profit yielding. I am still selling the product to earn a living as the profit margin is low.”
The Chairman of the National Association of Liquefied Petroleum Gas Marketers (NALPGAM), Mr Basil Ogbuanu, said that the increase was due to demurrage and other costs incurred by the operators.
“The price of 12.5kg of the product has risen from N2,500 in May 2016 to N4,000 within Lagos and Ogun states.” he said.
Also, Mr Chika Umudu, the Chairman of N2,700 and N3,700 Liquefied Petroleum Gas retailers (LPGAR),said in other sttes the price has drastically increased from to N4,500 and N5,000 respectively.
“In other states, the price has risen from N2,700 and N3,700 to around N4,500 and N5,000 and the product is scarce in some places,”