Minister Forecasts Impending Drop In Cooking Gas Prices In Nigeria

Minister Forecasts Impending Drop In Cooking Gas Prices In Nigeria

The Minister of State for Petroleum (Gas), Obongemem Ekpo, has made a bold prediction, foreseeing a significant reduction in the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, across Nigeria. Ekpo outlined various initiatives being undertaken by the federal government to ensure the accessibility of this essential commodity at more affordable rates…..READ ALSO Peter Obi Mourns The Passing Of Ogbonnaya Onu, Buhari Former Minister

Addressing a gathering of elders, stakeholders, and youths in Abak Local Government Area of Akwa Ibom State, Ekpo attributed the current high cost of cooking gas in the nation to its exportation. However, he assured that the government is diligently working to alleviate this burden by making cooking gas readily available domestically for both household and industrial use, including power generation.

The Minister outlined plans for the establishment of gas plants in various regions of the country, a move intended to curb escalating prices through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). He also disclosed discussions held with International Oil Companies (IOCs), urging them to halt the export of LPG.

Ekpo emphasized the need for gas blending to meet local specifications, noting variations in blending ratios by some companies. To address this, efforts are underway to establish blending plants that align with Nigeria’s blending requirements.

Furthermore, Ekpo emphasized the importance of curbing gas exports by independent producers, highlighting the potential impact on price reduction once exportation is ceased.

In conclusion, the Minister expressed optimism that these strategic interventions would pave the way for a notable decline in cooking gas prices, offering relief to consumers nationwide.

Join our channel for more latest news https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32