Nigerian Government Predicts Crash in Cooking Gas Price

The Nigerian government has announced plans to address the current high price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in the country.

The Minister of State for Petroleum (Gas), Obongemem Ekpo, has revealed that measures are being put in place to make cooking gas available at a more affordable rate.

Speaking at a forum in Abak Local Government Area of Akwa Ibom State, Ekpo attributed the current high price of cooking gas to the exportation of the product.

He noted that the government is working on the establishment of gas plants in various parts of the country to increase local availability and address the price issue through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The Minister also disclosed that a meeting has been held with International Oil Companies (IOCs), urging them to stop selling their gas (LPG) outside Nigeria.

He emphasized that the blending of LPG in Nigeria is 40:60 (propane and butane), and the government is looking for a blending plant that would produce gas to the country’s specific blend requirements.

Ekpo expressed optimism that the measures being taken by the government would lead to a crash in the price of cooking gas, stating that; “We have discussed how we can stop the export of gas by independent producers, and when we stop the export of gas, the price will come down.”

The government’s efforts to make cooking gas more affordable and available for use in Nigeria are part of a broader strategy to ensure energy security and support the country’s economic growth.