watin dey cause the increase nobody knows and government jus dey silent.
According to this news, 3rd Oct:
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) had in August 2023 said there is a possibility of a surge in the price of cooking gas due to the hike in the foreign exchange rate and activities in the international market.
The association said rising international prices, high tax rates, prices of vessels, forex scarcity and naira devaluation were some of the reasons for the price review.
Speaking on the long-term effect of the scarcity on Nigeria’s economy, Emmanuel said: “The long term effect of scarcity because of the shortage of bulk storage terminals, companies in the midstream importing product are hoarding for the purposes of price speculation and FX volatility, is that prices will continue to rise per KG.”
But as naira continue to depreciate should mostly like be known to be one of the reasons. Scarcity and companies that are hoarding it have been the reasons.