The Federal Government has stopped the export of locally produced Liquefied Petroleum Gas, also known as cooking gas, to prioritise domestic supply.
The measure announced by the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, on Tuesday, will begin November 1, 2024, and is to tackle the high gas price in Nigeria.
This was contained in a statement by the spokesman of minister, Louis Ibah, in Abuja. Ibah said the decision was reached after the minister convened a high-level meeting in Abuja with stakeholders to address the skyrocketing price and its attendant hardship on Nigerians.
The PUNCH reports that the price of cooking gas skyrocketed from N700/kg in June 2023, around when President Bola Tinubu assumed office, to N1,500/kg in October 2024. This represents about a 114 per cent increase within the 16 months.
In a move to tackle the soaring price of cooking gas, the minister established a high-level committee in November 2023 led by the Chief Executive of the NMDPRA, Farouk Ahmed, with key stakeholders in the LPG value chain.
