By James Moses (9News Nigeria -Jos)
The Federal Government of Nigeria has announced the immediate suspension of Liquefied Petroleum Gas (LPG) exports.
This is in the bid to curb the rising cost of cooking gas in the country.
Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo, announced the suspension of LPG exportation during the “International Stakeholder s’ Workshop” held in Abuja.
9News Nigeria checks reveal that the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, escalated to N1300 per kilogramme, this week admidst rising demand,. This translates to N16,250 for 12.5kg cylinder.
This sharp increase, up from N400 in 2018, sent shockwaves through households nationwide, adding another layer of burden to an already strained population.
Recall that last year the Nigeria Association of Liquefied Petroleum Gas Marketers (NALGAM) had predicted that a 12.5kg cylinder would cost N18, 000 going by the frequent increases.
Ekpo sa said the move is part of a strategic effort to boost the availability of LPG within the domestic market, to alleviate the financial burden on consumers due to surging prices.
The Minister revealed there are ongoing discussions with critical stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as well as major operators like Mobil, Chevron, and Shell.
Ekpo said: “With the issues of gas, you have seen the demostration of the Federal Government by withdrawing all taxes and levied from the importation of gas related equipment. It is a big incentives”
“On the issue of LPG (cooking gas), we are interacting with critical sectors to ensure that there is no exportation of LPG. All LPG produced within the country will have to be domesticated. And when this is done, the volume will increase and, of course the price will automatically crash.
“I’m in contact with the regulator, NMDPRA, we have meetings almost daily with the producers of the gas like Mobile, Chevron and Shell. So is that hope that things will turn around”
In November 2023, following a rise in the cooking gas per kg from about N700 to above N1100 and to tackle this the Minister of State for Petroleum Resources (GAS), Ekperikpe Ekpo constituted a committee headed by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, to come up with commendations on how to boost supplies and crash the price within a week.
Speaking on Thursday, the minister said the discussions are aimed at collectively addressing challenges encountered by consumers and making more stable, reliable and affordable cooking gas market.
-9News Nigeria.
