Mr. Ekperikpe Ekpo, Minister of Petroleum Resources, (Gas) in set above.
By Advocatenewsng.com
THE Honourable Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has expressed concern over the recent increase in the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, which has risen from between ₦1,000–₦1,100 per kilogram to as high as ₦1,500–₦1,700 per kilogram in some parts of the country.
In a statement released by Mr. Louis Ibah, Ekpo’s spokesman, the minister appeals for calm and understanding from Nigerians, assuring that the situation is temporary and will normalise very soon.
The recent price surge was primarily caused by two factors:
1. The industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the Dangote Refinery, which temporarily halted LPG loading.
2. Ongoing maintenance activities at the Nigeria LNG Train 4 facility, which reduced the volume of LPG available in the domestic market.
These disruptions led to a shortfall in supply and a consequent increase in prices due to demand–supply imbalance.
The Minister, however, notes that operations at the Dangote Refinery have now resumed, with loading of LPG to the domestic market already underway. Similarly, the Bonny River Terminal operated by Seplat Energy has commenced loading, while the Nigeria LNG is gradually restoring normal operations as maintenance nears completion.
With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices.
Rt. Hon. Ekperikpe Ekpo also reiterates that the LPG market is deregulated and appeals to marketers, distributors, and all stakeholders along the LPG value chain to be patriotic in their dealings, desist from hoarding, and refrain from exploiting consumers for profit.
To ensure compliance, the Minister has mandated the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of LPG depots across the country to prevent product hoarding and other sharp practices capable of worsening the current situation.
He reassures Nigerians that the Federal Government remains committed to ensuring sufficient and affordable gas supply to all households across the country.
