The nation’s cooking gas prices are out of control, and the federal government has stepped in to help.
Producers were informed by Ekperikpe Ekpo, Minister of Petroleum (Gas), that the nation needs to figure out how to overcome the difficulties in its own market.
In addition, he urged producers, including International Oil Companies (IOCs), to fulfill their domestic duties to Nigerians prior to exporting goods.
He claimed that President Bola Tinubu was worried about how expensive gas was getting for Nigerian families.
The action was prompted by changes in the product’s pricing in recent months, according to a statement signed by Louis Ibah, the minister’s media adviser.
Nowadays, the price per kilogram of cooking gas ranges from roughly N700 to over N900 in some regions of the nation.
According to Ekpo, two major issues that have been linked to the rise in LPG prices are the absence of sufficient supply from producers for the domestic market and foreign exchange sourcing for imports.
The meeting, which was called by the minister, was attended by Sansay Narasimi and other senior representatives of Chevron Nigeria Limited. It was held in the NNPC Towers.
Officials from the Nigerian National Petroleum Company Limited (NNPC) and the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), headed by Farouk Ahmed, its CEO, were among the others.
“President Bola Tinubu’s concerns about the majority of citizens’ hardship and the skyrocketing cost of cooking gas were conveyed by Ekpo,”
