Cooking Gas Crisis Deepens as LPG Price Surges to ₦1,400/kg Across Nigeria

Nigerians, especially urban residents, are facing renewed economic pressure as the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, has risen sharply to an average of about ₦1,400 per kilogram, up from around ₦1,000/kg in early March 2026. The development represents a 40 per cent increase within two months, worsening the cost of living for middle- and low-income households already struggling with inflation and rising energy costs.

The surge in cooking gas prices in Nigeria is happening alongside increases in other energy products. Petrol now sells between ₦1,345 and ₦1,400 per litre in Lagos and Abuja depending on location and filling station, while diesel has climbed to between ₦1,900 and ₦2,000 per litre, further deepening household financial strain.

Market data shows that households are already feeling the impact. A survey indicates that a 6kg cylinder of gas now costs about ₦8,400, while a 12kg refill sells for between ₦16,800 and ₦18,000 in many parts of the country, depending on the outlet and location.

The rising cost of LPG in Nigeria has significantly weakened purchasing power, forcing many families to cut consumption or switch to alternative cooking methods such as firewood and kerosene. In several urban areas, households are adjusting daily routines to cope with the increasing cost of energy.

There has also been a noticeable rise in the promotion and use of smokeless charcoal cooking stoves, which vendors are marketing as cheaper alternatives to gas. Some sellers claim the stoves cook as fast as gas, produce less smoke, and reduce household cooking expenses by up to 50 per cent, attracting increasing interest from struggling families.

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Residents across Lagos have continued to express frustration over the rising costs. A resident of Ketu, Mrs. Susan Adedayo, said she was shocked to discover that her 12kg gas refill had risen to ₦16,800, compared to ₦13,200 just a month earlier, describing the situation as unbearable for average households.

Another resident in Ojodu, Ms. Adetutu, said she now compares prices across different outlets due to constant fluctuations. She noted that she bought gas at ₦1,250 per kg, while other stations charged up to ₦1,400. She added that prices had moved from ₦700 per kg in January to ₦900 in March, warning that further increases appear likely.

Industry experts say the price hike is being driven by rising depot costs, supply shortages, and global energy pressures. The ex-depot price of LPG has reportedly increased by about 16.7 per cent to ₦21 million per 20 metric tonnes, up from around ₦18 million within weeks, forcing retailers to adjust prices upward.

The National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Inyang Edu, confirmed the price surge and linked it to multiple structural issues affecting supply and pricing in the domestic market.

He explained that domestic supply from key producers such as the Dangote Refinery and the Nigerian Liquefied Natural Gas (NLNG) has been insufficient to meet growing demand, leading to increased dependence on imports and higher costs.

Edu also pointed to global market pressures, noting that the Middle East crisis has affected crude oil prices and, by extension, LPG costs. He added that foreign exchange challenges linked to imports are further increasing the price of petroleum products across the board.

With energy costs rising simultaneously across cooking gas, petrol, and diesel, analysts warn that Nigerian households are facing a worsening energy inflation crisis. Many consumers are now calling for urgent government intervention to stabilise LPG supply, strengthen local production, and reduce reliance on imports to ease the burden on citizens.

Cooking Gas Crisis Deepens as LPG Price Surges to ₦1,400/kg Across Nigeria

Dangote Denies Rift With Tony Elumelu, Threatens Legal Action Over Viral Claims

The Dangote Group has strongly denied reports alleging a fallout between its founder, Aliko Dangote, and the Chairman of United Bank for Africa (UBA), Tony Elumelu, describing the claims as false, malicious, and misleading.

The controversy began after a viral post on X (formerly Twitter) claimed that Dangote spoke about financial difficulties during the construction of the Dangote Petroleum Refinery in 2021. The post alleged that the project faced funding challenges and that Dangote sought financial assistance from several Nigerian billionaires, including Femi Otedola, Abdulsamad Rabiu, Mike Adenuga, and Tony Elumelu.

The same post further alleged that Elumelu had reportedly promised a $20 million contribution but later stopped communication, while other unnamed business figures were said to have supported the refinery project with large sums. However, no evidence was provided to back up these claims.

Responding to the viral publication, the Dangote Group issued a firm denial through its Group Chief Branding and Communications Officer, Anthony Chiejina, stating that neither Aliko Dangote nor the company made such statements or comments.

The company stressed that the allegations were entirely fabricated and misrepresented the financing structure of the refinery project, insisting that the Dangote Petroleum Refinery & Petrochemicals was not funded through personal borrowing from friends or associates.

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The statement also addressed claims suggesting any disagreement between Aliko Dangote and Tony Elumelu, dismissing them as completely false and reaffirming that both business leaders maintain a longstanding and cordial relationship built over years of professional respect and collaboration.

The Dangote Group further warned that it is considering legal action against individuals, bloggers, and platforms responsible for creating and spreading the false narrative. It also raised concerns over a growing trend of misinformation involving AI-generated and manipulated content attributed to high-profile personalities.

According to the company, such actions not only damage reputations but could also amount to fraud and intentional misinformation. It urged all individuals and media platforms involved in circulating the claims to desist immediately.

The Dangote Petroleum Refinery, located in Lagos, remains Africa’s largest single-train refinery and one of the continent’s most significant private-sector investments, expected to play a key role in Nigeria’s energy security and fuel supply chain.

Both Aliko Dangote and Tony Elumelu continue to be regarded as two of Africa’s most influential business figures, with investments spanning banking, energy, manufacturing, and infrastructure across multiple countries.

The latest denial adds to growing concerns about the spread of fake news and AI-generated misinformation targeting prominent individuals in Nigeria’s business and political space.

Dangote Denies Rift With Tony Elumelu, Threatens Legal Action Over Viral Claims

Ahimie Makes History as CIS Elects First Female President

In a landmark development for Nigeria’s capital market community, Fiona Ahimie has been elected as the 14th President and Chairman of the Council of the Chartered Institute of Stockbrokers (CIS), becoming the first woman to hold the prestigious position since the Institute’s establishment.

Her election by the Council represents a significant milestone in advancing gender inclusion and diversity within the leadership ranks of the Institute and the broader financial services sector. Stakeholders have described the development as a progressive step that reflects evolving attitudes toward women in leadership across Nigeria’s capital market.

Ahimie is set to succeed Oluropo Dada, whose tenure is expected to conclude ahead of the formal handover. She will be officially inaugurated on June 25, when her tenure as President and Chairman of the Council will commence.

Industry observers note that her emergence could inspire greater female participation in stockbroking and capital market governance, while also reinforcing the Institute’s commitment to professionalism, innovation, and inclusivity.

Ahimie Makes History as CIS Elects First Female President