In a move aimed at bolstering domestic supply, the Nigerian government has banned the export of Liquefied Petroleum Gas (LPG), commonly known as cooking gas. This policy shift has resulted in a significant drop in the price of cooking gas across the country.
According to the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), the price of cooking gas has decreased from around N1,500 per kilogram to approximately N900 per kilogram. This reduction in cost has been welcomed by both LPG dealers and consumers.
Oladapo Olatunbosun, the National President of NALPGAM, expressed gratitude to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, for taking decisive action to address the issue of LPG exports. Olatunbosun stated that during a previous stakeholder meeting, the association had highlighted the problem of international oil companies exporting large volumes of gas, which contributed to the soaring domestic prices.
“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,” Olatunbosun said.
The policy change has not only reduced the wholesale price of LPG but has also led to a corresponding decrease at the retail level, from N1,400-N1,500 per kilogram to between N900-N1,000 per kilogram.
Minister Ekpo acknowledged the importance of making Nigeria’s vast gas resources available to the domestic market at affordable prices, in line with President Bola Tinubu’s vision for the sector and the economy. He praised the cooperation of LPG marketers in helping to bring down prices following the export ban.
The move to restrict LPG exports is part of the government’s efforts to deepen the penetration of gas across the country and ensure that Nigerians have access to this essential fuel at reasonable prices.
