Dangote Refinery has reduced its ex-depot price for cooking gas to ₦760 per kilogram, aiming to ease consumer costs and pressurize competitors to follow suit.
This development comes amid a backdrop of soaring cooking gas prices across Nigerian markets, where prices have jumped from ₦1,000 to as high as ₦3,000 per kilogram in cities like Lagos. Market surveys reveal that depots such as Matrix and Ardova sell LPG between ₦920 and ₦950 per kilogram, making Dangote’s price lower by ₦150 to ₦190 per kilogram.
Industry experts interpret Dangote’s price cut as a deliberate strategy to stabilize the volatile market and curb inflated pricing across depots. Dangote aims to restore availability and encourage pricing discipline among sellers, by offering LPG at ₦760 per kilogram. The spike in cooking gas prices has caused frustration with long queues forming at plants where the gas remains available.
The shortage, according to reports, was largely triggered by the strike action of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which disrupted LPG loading and distribution nationwide.
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