advertisementIn a welcome development for Nigerian households, the retail price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has dropped from an average of ₦1,080 per kilogram last week to ₦1,000 per kilogram this week. This decline comes amid growing concerns about rising living costs and is expected to ease financial pressure on millions of consumers. Increased Local Production: The Nigerian government, through the Nigerian National Petroleum Company Limited (NNPCL), has scaled up local gas production to reduce dependency on imports. Story continues below advertisementStable Foreign Exchange Rate: A relatively stable naira exchange rate in recent weeks has made LPG imports more affordable, especially for suppliers still sourcing gas externally. Market Competition: A rise in the number of private gas retailers has increased market competition, forcing prices downward to attract more customers.