Nigeria: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Nigeria

After two years of growth, the Nigerien liquefied petroleum gas (LPG) market decreased by -17.2% to $X in 2022. Over the period under review, consumption, however, showed a strong increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Liquefied Petroleum Gas (LPG) in Nigeria

In value terms, liquefied petroleum gas (LPG) production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a pronounced decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by 17%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Nigeria

After two years of decline, overseas shipments of liquefied petroleum gas (LPG) increased by 87% to X tons in 2022. Over the period under review, exports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2015 when exports increased by 184% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports skyrocketed to $X in 2022. Overall, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2018 when exports increased by 88% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), China (X tons) and Vietnam (X tons) were the main destinations of liquefied petroleum gas (LPG) exports from Nigeria, together comprising 53% of total exports. Niger, the Philippines, Japan, Brazil, the United States, Indonesia, South Africa, France, Belgium and South Korea lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +88.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Nigeria, comprising 31% of total exports. The second position in the ranking was taken by Niger ($X), with a 13% share of total exports. It was followed by the Philippines, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+73.2% per year) and the Philippines (+22.0% per year).

Export Prices by Country

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, declining by -3.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 25% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Nigeria

In 2022, imports of liquefied petroleum gas (LPG) into Nigeria surged to X tons, rising by 93% against the previous year's figure. Overall, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 1,237% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2022. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,082%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main supplier of liquefied petroleum gas (LPG) to Nigeria, accounting for a 99% share of total imports. It was followed by Niger (X tons), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +167.7%.

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Nigeria, comprising 97% of total imports. The second position in the ranking was taken by Niger ($X), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +100.7%.

Import Prices by Country

In 2022, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, which is down by -34.9% against the previous year. Overall, the import price, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 93% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Niger totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform