- Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has directed regulators to act against marketers hoarding or exploiting consumers amid the recent surge in cooking gas prices.
- The sharp increase in LPG prices, which hit about N2,000 per kilogram, was linked to disruptions caused by the PENGASSAN strike and maintenance work at NLNG Train 4.
- The minister assured Nigerians that operations at the Dangote refinery and NLNG have resumed, promising that prices will stabilise soon.
- Ekpo urged marketers and distributors to stop hoarding gas, stressing that the LPG market is deregulated and should operate fairly.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has issued a strong directive against cooking gas marketers hoarding products or inflating prices following a recent spike in the cost of Liquefied Petroleum Gas (LPG) across Nigeria.
In a statement released by his spokesperson, Louis Ibah, Ekpo expressed concern over the steep rise in prices, which have jumped from N1,000 to around N2,000 per kilogram in several parts of the country. The situation, he explained, was largely due to supply disruptions caused by the PENGASSAN strike at the Dangote refinery and ongoing maintenance work at the Nigeria LNG Train 4 facility.
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According to the minister, the strike by PENGASSAN had temporarily halted LPG loading, while the maintenance at NLNG reduced output, leading to scarcity and price hikes driven by demand exceeding supply.
However, Ekpo assured Nigerians that the situation is improving as operations have resumed at the Dangote refinery, with the loading and distribution of LPG already underway. He added that NLNG and Seplat Energy’s Bonny River Terminal have restarted operations, which will help stabilise domestic supply.
“With these positive developments, we expect a steady return to normal prices by next week,” the minister said.
Ekpo also reaffirmed that the LPG market is deregulated, urging marketers and distributors to act responsibly. He condemned hoarding and profiteering, warning that such practices worsen hardship for consumers.
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To ensure compliance, Ekpo instructed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of LPG depots nationwide and crack down on any hoarding or sharp practices that could fuel further scarcity.
He reassured Nigerians that the Federal Government remains committed to ensuring the steady availability of affordable cooking gas for all households across the country.
