Dealers of Liquefied Petroleum Gas,popularly called cooking gas, have stated that the Federal Government’s ban on the export of the product has led to a crash in price from about ₦1,500 per kilogram to around ₦900/kg.
The dealers, under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers, revealed this during a courtesy visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja.
Recall that in February 22, 2024, the Federal Government banned the exportation of LPG in a bid to increase its volume domestically to warrant a crash in price.
Speaking during the meeting with the gas minister on Wednesday in Abuja, the National President, NALPGAM, Oladapo Olatunbosun praised Ekpo for ordering the domestication of all LPG produced within the country.
Olatunbosun, in a statement issued by the minister’s media aide, Louis Ibah said that they drew the minister’s attention to the volume of cooking gas been exported by some international oil companies operating in Nigeria
The NALPGAM president thanked the Federal Government for heeding to their plea, as the government’s intervention made the price of LPG that was sold for ₦20m per 20 metric tonnes reduced to ₦15m.
Olatunbosun was quoted as saying, “We appreciate the fact that at the parley with us you (Ekpo) promised that the issue of exporting LPG in the face of inadequate supply and soar in prices will be addressed, and indeed you have taken steps to walk the talk.
“Today we say thank you because the ban on LPG export has made a lot of changes in the market and consumers can testify to this.
“People who abandoned their gas cylinders due to price hike are coming back and we are confident that by the time the naira gains more weight, consumers will enjoy better price of LPG.”
