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Consumers of Liquefied Petroleum Gas, popularly referred to as cooking gas, can now heave a sigh of relief, after the dip in the price of the product around the country and by up to 11 percent in some locations.
BusinessDay checks around Lagos, Port Harcourt, Abuja and other states, revealed that the price to refill a 12.5kg cylinder cooking gas dropped to between N4 000 and N4, 200 from between N4, 500 and N4, 800 in April.
In Lagos metropolis, the price to refill a 50kg cooking gas cylinder declined by 25percent to sell for N16,000 from N18,000, while the 25kg gas refill now sells for between N8,000 and N8,500 against between N9,000 and N10, 000 and the price range to refill a 12.5 kg cooking gas cylinder dropped to N4,000 from between N4,500 and N4,700, two weeks ago.
Furthermore, a 6kg gas cylinder refill, fell to N2,000 from between N 2,300 and N2,500 and the 5kg refill is now N1,600 against N2,000 while the 4.5kg camp gas refill which previously sold for between N1, 200 and N1500, now goes for between N1, 000 and N1, 200.
“Business is looking better now because of increased patronage. Complaints from customers have reduced. I hope the price keeps dropping,’’ Agu Ogbuji, a gas retailer in Lagos told BusinessDay.
Some gas users told BusinessDay that the drop in price is cheery news and a sign that things would get better.
“I filled my 12.5kg gas cylinder for N4,500 two months ago. I was happy when I went back to the gas station and was told it is now N4,200. A friend of mine filled hers for N4,000 recently. It means the end of this recession period is near,’’ said Gloria Ime, a user of cooking gas in Lagos.
Ugo Okocha, another user in Port Harcourt said, ‘‘I refilled a 12.5kg gas cylinder for N5,000 two weeks ago at Santiago gas plant. I hear the price has come down. If it is true, then its good news.’’
Two other users in Lagos said they refilled the 12.5kg cooking gas cylinder for N4,200 and N4,300 respectively two weeks ago.
Similarly, price of kerosene witnessed a significant drop last month and has remained flat since then, but retailers say business is still dull.
‘‘Most people have switched to charcoal and a few to cooking gas. I hardly sell up to one gallon of kerosene now unlike before,’’ said Josephine Onokpa, a kerosene dealer in Lagos.
A litre of kerosene which sold for between N400 and N500 at filling stations is now N250. The 1.5litres Eva water bottle of kerosene which sold for between N600 and N700 in February dropped to sell for between N350 and N400 in March, depending on the location.
The price of eggs has also dropped significantly across the country. A crate of big eggs which was previously sold for N1,200 fell by 33percent to sell for N900, while a crate of small eggs now goes for N750 instead of N950.
‘‘There is low purchasing power for eggs in the country, especially in the Northern region, due to the current economic situation in the country. Nigerians are not consuming eggs like before and it has created a glut in the market,” Dayo Gawati, managing director and chief executive officer, Fdot Farms told BusinessDay in a telephone response to questions.
“We sell a crate of eggs (big size) for N700 as against N900 sold in January, while a crate for small size goes for N550 as against N750 sold four months ago. We have been selling not to make profit but to cut down our losses,” Gawati said.
However, the prices of key food items have continued to rise across the country in the past one month.
As at Thursday (yesterday), a basket of fresh tomatoes rose to sell for between N14,500 and N15, 500, as against between N10, 000 and N12, 000 in April. A 50kg bag of onions increased to between N17, 000 and N17,500 from N12, 000 and 50kg bag of rodo, a brand of pepper rose to sell for N21, 000 from N15, 000, within the same period.
Also, the price of a 50kg bag of Oloyin beans rose from N16,000 to N18,000, while 25 litres of vegetable oil rose from N13,500 to N14,000 and 25 litres of palm oil dropped to N12,500 from N13,000 within the same period.
A carton of frozen chicken also witnessed a slight decline in price from between N11,000 and N12,000 to between N10,000 and N10,500, and a carton of frozen turkey, which previously sold for N13,500 and N14,000 is now N11,400, and a bag of onions is now sold for between N17, 000 and N17, 500 instead of N12, 000, within the same period.
‘‘Customers are still buying in smaller measurements. It’s only during festive periods that we see them buying more than they usually do,’’ said Kunle Oseni, a trader at Oshodi market.
CHINWE AGBEZE
