By Damilola Aina


The Federal Government has initiated a process to resolve challenges bordering on the supply and pricing of Liquefied Petroleum Gas in the country’s domestic market better known as cooking gas.

A statement by Louis Ibah, spokesman for the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, said the minister waded into the issue following a rise in the price of LPG per kg from about N700 to above N1,100 in some parts of the country.

He said the meeting, at the instance of the minister, which was held at the NNPC Towers Abuja recently had in attendance top officials of Chevron Nigeria Limited led by Sansay Narasimi; Nigerian Midstream Downstream Petroleum Regulatory Authority led by its Chief Executive Officer, Farouk Ahmed and the Nigerian National Petroleum Corporation Limited.

The PUNCH reports that key challenges identified as responsible for LPG price increase include FX sourcing for imports and insufficient supply to the domestic market by producers.

Ekpo expressed the concerns of President Bola Tinubu over the astronomical increase in the price of cooking gas and the attendant hardship on the majority of citizens.

The minister who noted that Nigeria is abundantly endowed with gas reserves, said the situation where some of the multinational firms were more concerned with gas exports without dedicating huge volumes to the domestic market was unacceptable and should be discouraged.

He said, “With the exponential increase in the price of LPG, there is the need for the Federal Government to intervene and I am representing this at this moment.

“We acknowledge that some producers are exporting while we are faced with the challenges of importation.

“Public interest is the overriding interest all over the world for the government, and the demand for LPG will increase as we approach December…you have a public service obligation to collaborate with the government to ensure the security of gas supply, we need to therefore bend backwards and find solutions, to ensure that we have sufficient supply and stability in-country and that Nigerians have gas.”

The minister thereafter constituted a committee with a mandate to come up with recommendations on how to boost supplies and crash LPG prices within a week.

https://punchng.com/fg-moves-to-crash-cooking-gas-price/?amp

Nlfpmod

Na move dem don move, dem never crash the price.

Noted

Very important please

I don't understand, just do it and stop talking about it

They should do it Asap.

ploo

Committee again

It is pathetic and shameful that a country rich in gas and crude oil can't make it cheap for the citizens

immortalcrown:
Na move dem don move, dem never crash the price.

Smh. Just read the report and not only the headline nah. You will not die fa

You can never hear about a done deal or project from them. It's always about to, move to, will , shall , can etc

Until they crash it.

FreeStuffsNG:

Smh. Just read the report and not only the headline nah. You will not die fa

You wey read am, how much be the price now?

Tinubu should move to crash the price of petrol. If this situation continues many small and medium scale businesses will collapse.

Moving again?