The Minister of State for Petroleum Resources, Ekperikpe Ekpo, has expressed concerns over the increasing prices of cooking gas across many states in the country.
The minister, reacting to issues affecting the sector, including supply and the pricing of Liquefied Petroleum Gas (LPG) in the domestic market, assured the public of the Ministry’s readiness to address the issue.
During a meeting held at the NNPC Towers in Abuja, tagged ‘Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA),’ top officials of Chevron Nigeria Limited were in attendance to discuss the crises negatively impacting the increased prices of LPG.
A committee, chaired by the NMDPRA boss, has been mandated to develop recommendations within one week on how to increase supplies and reduce LPG prices. According to a statement by Ekpo’s media aide, Louis Ibah, the price increase in LPG per kilogram from about N700 to well above N900 across many states in recent months has necessitated the intervention of key stakeholders in the sector. The statement added that factors such as FX sourcing for imports and insufficient supply to the domestic market by producers have been identified as major contributors to the increase in the price of LPG.
