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FG orders monitoring of LPG depots nationwide amid rising costs.
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Cooking gas price jumps from ₦1,000–₦1,100 to ₦1,700 per kilogram in some areas.
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Government blames supply disruptions at Dangote Refinery and NLNG for current scarcity.
The Federal Government, FG has issued a stern warning to Liquefied Petroleum Gas (LPG) distributors and marketers against hoarding and inflating prices amid widespread public concern over the rising cost of cooking gas across the country.
The Minister of State for Petroleum Resources (Gas), Hon Ekperikpe Ekpo, gave the warning on Monday, expressing concern over the sharp increase in LPG prices from between ₦1,000 and ₦1,100 per kilogram to as high as ₦1,700 in some states.
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While acknowledging that the LPG market is deregulated, the minister appealed to stakeholders to show patriotism and desist from exploiting consumers for profit. He also directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify nationwide surveillance on gas depots to curb hoarding and other unethical practices.
“The government is aware of the price surge and the hardship it poses. However, we urge marketers to act responsibly and avoid actions that could further worsen the situation,” Ekpo stated.
READ ALSO: Cooking Gas Price Hike: Minister Moves Against Hoarders, Promises Price Drop Soon
He attributed the recent spike in prices to temporary disruptions in supply caused by the industrial action of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the Dangote Refinery, which halted LPG loading. The minister also cited ongoing maintenance at the Nigeria LNG Train 4 facility, which has affected output.
“These disruptions led to a shortfall in supply and a consequent price increase due to a demand–supply imbalance. The situation is temporary and will normalise soon,” he assured.
According to him, operations have resumed at the Dangote Refinery, while Seplat Energy’s Bonny River Terminal and the Nigeria LNG facility are gradually restoring normal activities.
“With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in price,” Ekpo added.
He reaffirmed the Federal Government’s commitment to ensuring adequate and affordable gas supply to Nigerian households, stressing that measures are underway to maintain consistent distribution across the country.
