The Federal Government has initiated measures to address challenges related to the supply and pricing of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in the domestic market. The move comes in response to a significant rise in the price of LPG per kilogram, prompting concerns over its impact on citizens.
Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, convened a meeting at the NNPC Towers in Abuja, attended by officials from Chevron Nigeria Limited, Nigerian Midstream Downstream Petroleum Regulatory Authority, and the Nigerian National Petroleum Corporation Limited. Challenges identified include foreign exchange (FX) sourcing for imports and insufficient supply to the domestic market by producers.
Minister Ekpo conveyed President Bola Tinubu’s concerns over the surge in cooking gas prices and the resultant hardship faced by citizens. He expressed dissatisfaction with multinational firms prioritizing gas exports over supplying the domestic market. The minister emphasized the need for government intervention to ensure adequate supply and stable prices, considering Nigeria’s abundant gas reserves.
Acknowledging the challenges of exportation and importation, Ekpo emphasized the government’s commitment to public interest and called for collaboration to secure gas supply. In response, he constituted a committee with a one-week mandate to propose recommendations for enhancing supplies and reducing LPG prices in the country.
