FEDERAL GOVT MOVES TO REDUCE PRICE OF COOKING GAS

The high cost of cooking gas currently experiencing in the country may soon be a thing of the past if the Federal Government can implements its plans to resolve the challenges bordering on the supply and pricing of Liquefied Petroleum Gas (LPSG) in Nigeria’s Domestic Market.

This was disclosed by the Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, who said he 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.

According to the statement issued by the Minister’s media aide, Louis Ibah, the Minister made the disclosure at a meeting convened at the NNPC Towers in Abuja, which was attended by officials of Chevron Nigeria Limited, the Nigerian Midstream Downstream Petroleum Regulatory Authority, and the Nigerian National Petroleum Corporation Limited.

P.M.EXPRESS had earlier reported that the real cause of high price of cooking gas is the exportation in disregard for domestic use caused by foreigners who produce the gas in Nigeria.

Some of the challenges highlighted at the meeting as responsible for LPG price increase included Forex sourcing for imports and insufficient supply to the domestic market by producers,

At the meeting, The minister conveyed President Bola Tinubu’s concerns over the significant price increase in the product and its resulting hardships for the majority of citizens, he highlighted Nigeria’s abundant gas reserves and criticized multinational firms emphasis on gas exports without allocating significant volumes to the domestic market, which he declared as unacceptable and a committee was subsequently set up by the Minister with a mandate to deliver recommendations within a week on how to enhance supplies and reduce LPG prices.

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