The federal government has instructed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of gas depots across the country to curb hoarding and unscrupulous practices, following a sharp spike in the price of liquefied petroleum gas (LPG), commonly known as cooking gas.
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, made the directive known on Monday amid growing concerns over the steep rise in cooking gas prices, which surged from about N1,000–N1,100 per kilogram to as high as N1,700 in several regions.
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) had earlier attributed the price hikes to some retailers exploiting the current supply shortage for profit.
Ekpo explained that the price spike was driven by temporary disruptions in domestic LPG supply caused by an industrial strike at the Dangote refinery and maintenance work at Nigeria LNG’s (NLNG) Train 4 facility.
“These disruptions created a shortfall in supply and a consequent increase in prices,” the minister said, reassuring the public that the situation is temporary and will normalize soon.
He confirmed that loading operations have resumed at the Dangote Refinery and Seplat’s Bonny River terminal, while NLNG is gradually ramping up production as maintenance activities wind down.
“With these developments, supply to the domestic market is expected to stabilize by next week, leading to a gradual reduction in prices,” Ekpo added.
While emphasizing that the LPG market is deregulated, the minister appealed to marketers and distributors to act patriotically and avoid profiteering during this period.
He reaffirmed the government’s commitment to guaranteeing sufficient and affordable cooking gas supply for Nigerian households nationwide.
About the Author
