Price of 5kg cylinder of gas down 2.13 percent in May

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Cooking gas
Cooking gas

THE National Bureau of Statistics, NBS, has said that the average price for the refilling of a 5kg cylinder of the Liquefied Petroleum Gas, LPG, or cooking gas dropped by 0.90 percent month-on-month in May. The price also dropped by 2.13 percent year-on-year to N2,028.04 in May from N2,046.53 in April this year.

The figures, according to latest report released by NBS, showed that states with the highest average price for the 5kg cylinder were Adamawa and Bauchi (N2,500), Yobe (N3,375.00) and Borno (N2,342.86), while states with the lowest average price were Edo (N1,714.17), Abuja (N1,675.00) and Ebonyi (N1,666.67).

Similarly, the average price for the refilling of the 12.5kg cylinder of the LPG dropped by 0.79 percent month-on-month and 1.82 percent year-on-year to N4,220.44 in May from N4,253.91 in April. Average price paid by consumers for premium motor spirit (petrol) dropped by -3.4 percent year-on-year and -0.6 percent month-on-month to N145.0 in May 2019 from N145.9 in April 2019.

The NBS statistics showed that states with the highest average price of premium motor spirit (petrol) were Ebonyi (N146.25), Kwara (N146.14) and Niger (N146.11), while those with the lowest average price of premium motor spirit (petrol) were Enugu (N143.55), Katsina (N142.50) and Gombe (N141.08).

Meanwhile, the Nigeria LNG Limited, NLNG, is to supply cooking gas directly to Rivers State instead of being routed through Lagos. Tony Attah, managing director, NLNG, gave this assurance to Governor Nyesom Wike of Rivers State, during a courtesy visit by the management of the gas firm to the governor at government house in Port Harcourt.

Attah announced during the visit that the Final Investment Decision, FID, on the NLNG Train-7 project would be taken in October this year. He said the project was expected to cost $6-$7 billion, adding that on the employment side, the project will create 10-15 thousand jobs for the people of the state.

He said the company would also build the skills and capacity of the people.

He appealed to the Rivers State governor to assist in realising the project by dredging the Iwofe waterway, while commending the governor for promoting security in the state, which, according to him, has created the right environment for investment.

Responding, the Rivers State Governor declared that the state government will support the NLNG Train-7 project to take off because of its potential to create over 15,000 jobs and boost the state’s economy. Governor Wike commended the NLNG for establishing its headquarters, adding that Rivers people are happy that the NLNG Train-7 will soon come on stream.

He also commended the management of the NLNG for initiating the Community Health Insurance Scheme for Bonny Island, saying that the state government will partner with the company to achieve the objectives of the programme.

On supplying cooking gas directly to Rivers State instead of passing through Lagos, Governor Wike assured that the state government will dredge the Iwofe waterway for that purpose.

– July 5, 2019 @ 15:59 GMT |

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