Nigeria's cooking gas market is showing stronger signs of price moderation as increased imports continue to boost product availability, with the latest depot prices in Lagos suggesting that consumers could see further reductions in retail prices if the lower wholesale costs are transmitted through the distribution chain.
Recent market checks indicate that retail Liquefied Petroleum Gas (LPG) prices have declined steadily across parts of Abuja over the past three weeks. Filling stations operated by Ranoil, Shafa and AP Ardova now dispense cooking gas at between ₦1,300 and ₦1,400 per kilogram, down from ₦1,450–₦1,500/kg, while independent retailers in Dawaki, Kubwa, Gwarimpa and Lugbe have reduced prices to around ₦1,500/kg from approximately ₦1,700/kg.
The easing prices coincide with a significant increase in LPG imports. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that cooking gas imports surged by 1,400 per cent in June 2026 to 1.5 kilotonnes per day, substantially improving domestic supply.
The improvement in supply is also reflected in the depots. Checks by Petroleumprice.ng on Monday, July 27, 2026, revealed that Navgas was selling LPG at ₦1,025/kg, while both Nipco and 11PLC offered the product at ₦1,075/kg in Lagos depots. These prices remain considerably below prevailing retail rates in many parts of the country, indicating that marketers are still sourcing products at relatively competitive wholesale prices despite ongoing volatility in global energy markets.
Industry analysts say the disparity between depot and retail prices reflects transportation costs, cylinder handling, storage expenses, distribution margins and other operating costs, which often delay the full transmission of wholesale price reductions to consumers.
Unlike the petrol and diesel markets, which have faced sustained upward pressure from higher international crude prices and foreign exchange costs, the LPG market has remained relatively stable due to stronger import volumes and improved product availability, helping to cushion domestic prices against external shocks.
Market operators expect the current trend to continue if import volumes remain robust and exchange rate conditions stay relatively stable. However, they caution that renewed disruptions to global shipping routes or a sharp increase in international LPG prices could slow or reverse the recent decline.
For now, the combination of stronger imports and relatively competitive depot prices provides encouraging signals for Nigeria's cooking gas market, raising expectations that more consumers could benefit from lower retail prices in the weeks ahead.