The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has directed regulatory authorities to clamp down on marketers hoarding Liquefied Petroleum Gas (LPG), also known as cooking gas, amid the recent surge in prices across the country.
In a statement signed by his spokesman, Louis Ibah, on Monday, Ekpo described the actions of some marketers as exploitative and warned that the government would not allow Nigerians to be subjected to undue hardship.
The price of cooking gas has risen in recent weeks from an average of ₦1,000 per kilogram to as high as ₦2,000/kg in some parts of the country.
The hike followed the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) during its face-off with the Dangote refinery, as well as ongoing maintenance activities at the Nigeria LNG Train 4 facility.
Although the strike was suspended almost two weeks ago, prices have remained high, while scarcity persists.
Explaining the causes of the scarcity, Ekpo said, “The strike by PENGASSAN at the Dangote refinery temporarily halted LPG loading, while the maintenance work at NLNG reduced the volume of gas available in the domestic market.”
He noted that these disruptions created a supply shortfall, which triggered the sharp rise in prices.
The minister, however, assured Nigerians that supply was already improving.
“Operations have resumed at the Dangote refinery with LPG loading to the domestic market already underway. The Bonny River Terminal operated by Seplat Energy has also commenced loading, while NLNG is gradually restoring normal operations as its maintenance nears completion,” Ekpo explained.
He added that with these developments, supply would stabilise by next week, leading to a gradual drop in prices.
While reiterating that the LPG market remains deregulated, the minister cautioned marketers, distributors, and other stakeholders against hoarding products or exploiting consumers for profit.
“The LPG market is deregulated and stakeholders must be patriotic in their dealings. They should desist from hoarding and refrain from exploiting consumers for profit,” the statement read.
Ekpo further disclosed that the Nigerian Midstream and Downstream Petroleum Regulatory Authority had been directed to intensify monitoring of LPG depots nationwide to curb hoarding and sharp practices.
He reassured Nigerians that the Federal Government remained committed to ensuring sufficient and affordable gas supply to all households across the country.
