Households in Nigeria are celebrating a significant decrease in the price of Liquefied Petroleum Gas (LPG), also known as cooking gas. The price has fallen from N1,500 per kilogram to around N900, offering much-needed relief for many families. This positive change is attributed to the government’s decision to ban LPG exports in February 2024.
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) played a key role in advocating for the ban. They argued that large quantities of gas were being exported by international oil companies, leading to a shortage and high prices in the domestic market. The government heeded their concerns, and the export suspension has resulted in a more stable and affordable supply chain.
The Minister of State for Petroleum Resources (Gas) acknowledged the paradox of Nigeria being a major gas producer with low domestic consumption. He reaffirmed the government’s commitment to President Bola Tinubu’s vision of making gas readily available at fair prices for Nigerian households. This aligns with the president’s broader economic goals.
Source: Business Day