12.5kg cooking gas may sell for N10,000 by December, Marketers raise alarm!

Marketers of Liquefied Petroleum Gas have told Nigerians that the price of cooking gas might rise astronomically In fact, the marketers claimed that the price of 12.5kg cooking gas may sell for N10,000 by December if care is not taken

Nigerians have been told that they might soon start buying cooking gas at an astronomical price. This is according to Marketers of Liquefied Petroleum Gas. The marketers expressed worry over the supply shortage leading to persistent increase in the price of the commodity.

They warned that 12.5kg of cooking gas currently selling between N7,500 and N8,000 could rise to N10,000 before December if nothing was done to address the crisis.

The marketers lamented that more Nigerians had resorted to using firewood, charcoal, sawdust, among other unrefined energy sources whose prices have also begun to rise.

The Executive Secretary of the National Association of LPG Marketers, Mr Bassey Essien, disclosed this during the weekly e-discourse organised by a leading Pan-African forum, Platforms Africa, a statement on Saturday by the organisation’s Team Lead, Adeola Yusuf, said. Platforms Africa is the e-community of intellectuals, policy moulders and opinion leaders on the continent .

Essien maintained that government needed to review the recently introduced import charges and Value Added Tax, else “the price of cooking gas may as well reach N10,000 for a 12.5kg cylinder.” He said, “Today (Saturday), the price has risen to N7,500 and N8,000. The skyrocketing price of gas is our fear and what we are trying to avoid. Early in the year a 20-metric ton of gas was selling for below N5m but today, the same tonnage sells for N10.2m. As long as there is that supply shortage, the available quantity and the dynamics of supply-demand will keep pushing the price higher.”

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