Federal Government Moves to Curb Rising Cooking Gas Prices
The Federal Government of Nigeria (FGN) has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify engagement with producers, marketers and other stakeholders to achieve market stability of Liquefied Petroleum Gas (LPG).
The Minister of State Petroleum Resources (Gas), Dr Ekperikpe Ekpo, who said this on Monday, also directed the producers, marketers and other stakeholders to sustain the supply of LPG, commonly known as cooking gas.
Ekpo gave the directive while addressing concerns over the persistent rise in the price of LPG across the country. In a statement by his Spokesperson, Louis Ibah, the minister said that marketers had committed to increasing import volumes to complement domestic production.
He said deliveries from Seplat Energy’s new gas facility, expected to commence in July, would significantly boost national LPG supply.
He said the recent price adjustments were driven largely by prevailing market realities such as foreign exchange volatility, rising logistics costs, infrastructure constraints and fluctuations in international LPG prices.
He said that these factors should not be misinterpreted as evidence of policy failure.
The Minister also confirmed that no producer was exporting LPG volumes designated for the domestic market, as regulatory measures remain firmly in place to prioritise local needs.
He reassured Nigerians that the Federal Government remained fully committed to ensuring adequate, reliable and affordable gas supply for households, industries and power generation across the country.
“This commitment is reflected in ongoing interventions designed to stabilise the domestic LPG market, including the minister’s directive that all LPG produced in Nigeria be prioritised for local consumption.
“This policy has already strengthened domestic supply, reduced dependence on imports and improved market resilience.
“The outlook for LPG supply remains positive, and the Federal Government will continue to pursue measures that enhance availability, affordability and long term energy security for Nigerian consumers,” he said.
NAN reports that cooking gas currently sells at N2,000 per kg in roadside retail outlets, while major marketers, such as NIPCO sell at N1, 600 per kg.
Consumers had expressed worry and dissatisfaction about the hardship caused by the recent development, and urged the Federal Government to intervene to mitigate the effect. Federal Government Moves to Curb Rising Cooking Gas Prices Cooking Gas Price Continues to Increase- NBS
