As part of measures to address the increasing scarcity and rising prices of cooking gas (Liquefied Petroleum Gas – LPG) in Nigeria, the federal government has taken decisive action.
The Minister of State for Petroleum Resources, Ekperikpe Ekpo, announced the suspension of LPG exportation during an “Internal Stakeholders’ Workshop” held in Abuja…..CONTINUE READING
He said the move is part of a strategic effort to boost the availability of LPG within the domestic market, with the aim of alleviating the financial burden on consumers due to surging prices.
Ekpo revealed that 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.
According to him, the discussions are aimed at collaboratively addressing challenges faced by consumers and ensuring a more stable and affordable cooking gas market.
The minister emphasized the importance of halting the exportation of locally produced LPG, intending to keep the entire production within the country.
He added that by doing so, the government anticipates an increase in the volume available for the domestic market, potentially leading to a reduction in prices and providing relief to consumers grappling with the high cost of cooking gas.
“There is that hope that things will turn around. We don’t need to make noise about it,” he said.
