Liquefied Petroleum Gas (LPG) prices are beginning to soften across Lagos as fresh product arrivals and rising inventories improve supply conditions in Nigeria’s cooking gas market.

This is following after the Federal Government directed regulatory and security agencies to clamp down on the diversion, hoarding and illegal storage of Liquefied Petroleum Gas (LPG) as part of measures to stabilise prices and ensure adequate supply across the country.

Minister of State Petroleum Resources (Gas), Rt Hon. Ekperikpe Ekpo, gave the directive on Monday in Abuja during an emergency stakeholder engagement convened to develop coordinated solutions to the recent increase in cooking gas prices.

However, the increase in available volumes has eased procurement pressure on marketers and strengthened expectations of further price moderation in the coming weeks.

Checks by our correspondent shows that major LPG depots with available stocks, including Nipco, Ardova, Navgas, Techno Oil and Dangote, remained adequately stocked as at Wednesday. Depots actively loading the product, including Nipco, Ardova, Techno Oil and Navgas, sold LPG at ₦1,175 per kilogram, reflecting a softer market driven by rising inventories and improved supply fundamentals.

Industry sources attributed the price easing to increased cargo arrivals and stronger stock positions at depots. With product availability improving significantly, supply has outpaced immediate demand, reducing pressure on ex-depot prices.

The growing inventory levels have also intensified competition among suppliers, forcing depot operators to adopt more competitive pricing strategies to sustain product movement and market share.

The latest development marks a notable shift from previous weeks when supply constraints and import costs supported higher LPG prices. Market participants say the improved supply outlook could create room for further price reduction if current inventory levels are maintained.

Should the trend persist, the reduction in ex-depot prices is expected to filter through the distribution chain, offering relief to households and businesses that depend on LPG as their primary cooking fuel.