The ban on the export of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, by the Federal Government has significantly reduced the cost of the commodity, according to LPG dealers. They revealed that the price has dropped from about N1,500 per kilogram to approximately N900/kg.
During a courtesy visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja, the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) commended the government’s decision. National President Oladapo Olatunbosun stated, “The policy resulted in the reduction and stabilisation of the product’s price in the domestic market.”
Olatunbosun highlighted the association’s previous appeal to the minister regarding the export of gas by international oil companies operating in Nigeria. He emphasized that redirecting these volumes to the domestic market would ensure availability and price stability.
Thanks to the government’s intervention, the price of LPG decreased significantly, with bulk prices dropping from N20m per 20 metric tonnes to N15m, and retail prices decreasing from N1,400 – N1,500 per kilogram to between N900 – N1,000 per kilogram.
Expressing gratitude for the ban on LPG export, Olatunbosun stated, “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.”
In response, Minister Ekpo decried Nigeria’s low consumption of gas despite being a major producer. He assured of President Bola Tinubu’s commitment to expanding gas penetration across the country.
Ekpo applauded the cooperation of gas marketers in reducing prices following the export ban, stating, “We are working towards ensuring that our vast gas resources are available domestically at the right price for the public in line with President Bola Tinubu’s aspiration for the sector and economy.”
Ekpo reiterated the government’s stance on halting LPG export, emphasizing ongoing engagements with stakeholders to address challenges and ensure a sustainable solution.
