The Federal Government has resolved to tackle the challenges arising from the supply and pricing of Liquefied Petroleum Gas (LPSG) popularly called cooking gas, the Minister of State Petroleum ( Gas),Ekperikpe Ekpo has hinted .
The Minister’s Spokesperson, Louis Ibah said that the Minister made the disclosure at a meeting at the NNPC Towers attended by officials Chevron Nigeria Limited, the Nigerian Midstream Downstream Petroleum Regulatory Authority and the Nigerian National Petroleum Corporation NNPCL.
According to him,Key challenges highlighted at the meeting as responsible for LPG price increase include FX sourcing for imports and insufficient supply to the domestic market by producers. the rise in LPG prices FX sourcing for imports and inadequate supply to the domestic market by producers.
While conveying President Bola Tinubu’s concerns over the significant price increase in cooking gas and its resulting hardships on the citizens,Ekpo highlighted Nigeria’s abundant gas reserves and criticized multinational firms’ emphasis on gas exports without allocating significant volumes to the domestic market, deeming it unacceptable.
Subsequently, the Minister set up a committee with a mandate to deliver recommendations within a week on how to enhance supplies and slash prices.
An independent survey of gas prices at some filling stations in some parts of the country revealed that the price of LPG per kg has increased from about N700 to above N1,100 . Previously,the cost of filing a 12kg gas cylinder was N9000 but the price as of Saturday, November 25, was N13,500
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