‘Stop Exporting Cooking Gas Produced In-Country

The Federal Government has directed the Nigerian National Petroleum Company Limited (NNPC Ltd) and Liquefied Petroleum Gas (LPG) producers to stop exporting cooking gas or LPG produced in-country, or import equivalent volumes of LPG exported at cost reflective prices with effect from November 1, 2024.

The FG, as another short term solution, urged the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) to engage stakeholders to create a domestic LPG pricing framework within 90 days.

This is with a view to indexing price to cost of in-country production, rather than the current practice of indexing against external markets, such as the Americas and Far East Asia, whereas the commodity is produced in-country and the Nigerian people are required to pay much higher price for an essential commodity the country is naturally endowed with.

Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, yesterday in Abuja gave the directives during a meeting with stakeholders to address the skyrocketing price and its attendant hardship on Nigerians, according to a statement by Ekpo’s spokesman, Louis Ibah. He expressed deep concern over the continuous increase in the price of LPG, popularly known as cooking gas in the country.

The minister had also in a bold move to tackle the soaring price of cooking gas had established a highlevel committee in November 2023, led by the Authority Chief Executive of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, and comprising key stakeholders in the LPG value chain. However, despite this effort to address the issue, prices have continued to fluctuate, recently soaring to N1,500 from an average of N1,100 – N1,250 per kg.