By Yemi Olakitan
In response to the alarming increase in the cost of Liquefied Petroleum Gas (cooking gas) across certain regions of Nigeria, the Federal Government has taken decisive steps to address the issue.
The Minister of State for Petroleum Resources, Ekperikpe Ekpo, has spearheaded efforts to tackle the challenges related to the availability and pricing of cooking gas in the domestic market.
The minister convened a meeting at the NNPC Towers in Abuja, which was attended by high-ranking representatives from Chevron Nigeria Limited, the Nigerian National Petroleum Corporation Limited, and the Nigerian Midstream Downstream Petroleum Regulatory Authority.
The meeting was prompted by reports of a significant surge in the price of LPG per kilogram, rising from approximately N700 to over N1,100 in certain regions.
Sources from Nature News have linked the surge in LPG prices to issues such as insufficient supply from producers to the domestic market and challenges in foreign exchange sourcing for imports.
Related Posts
President Bola Tinubu’s concerns about the adverse impact of the rising cooking gas prices on the populace were conveyed during the meeting.
Minister Ekpo emphasized Nigeria’s abundance of gas reserves and expressed dissatisfaction that some global companies were prioritizing gas exports over substantial investments in the local market.
He stated, “The Federal Government needs to intervene due to the exponential increase in LPG prices, and I am here to represent this.”
To address the challenges, the minister established a committee with a one-week mandate to provide recommendations on increasing supply and reducing LPG prices.
As the demand for LPG is expected to rise in December, the government is taking proactive steps to ensure the stability and security of gas supply to meet the needs of Nigerians.
These measures underscore the government’s commitment to the public interest and its responsibility to safeguard the welfare of the citizens amidst economic challenges.
