The price of a 12.5kg liquefied natural gas (LNG) cylinder, which is frequently used for cooking gas, has increased to N12,500 during Nigeria’s 63rd Independence day festivities.

Petrol merchants have significantly raised the cost of the 12.5kg cylinders. Particularly in the Lagos region, this is a significant increase from the stated price of N10,000 at the end of the previous month, according to The Punch.

Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, has earlier cautioned against this price increase.

Oladapo had issued a warning that unless the Federal Government stepped in to control the actions of terminal owners, the cost of a 12.5kg cooking gas cylinder might increase to as much as N18,000 by December.

Olatunbosun acknowledged that, as of Monday, it appears that the administration has not yet taken any action to remedy the problem.