FG Moves to Crash Cooking Gas Prices as LPG Soars to N2,500/kg, Orders Marketers to Import More
- Federal Government announces increased LPG imports to tackle rising cooking gas prices
- Consumers face soaring costs with prices hitting N2,500 per kilogramme across Nigeria
- Government commits to affordability and stability in cooking gas supply for Nigerian households
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Federal Government has unveiled fresh measures aimed at easing the rising cost of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, following reports that prices have surged to as high as N2,500 per kilogramme in parts of Nigeria.
As households grapple with the soaring cost of clean cooking fuel, the government has directed marketers to increase LPG imports in a bid to boost supply, reduce scarcity and stabilise prices across the country.
Source: Getty Images
Government orders increased LPG imports
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has been mandated to intensify engagement with producers, importers, marketers and other stakeholders in the LPG value chain.
According to him, the directive is part of an urgent intervention designed to address supply shortfalls that have contributed to the recent spike in cooking gas prices nationwide.
Ekpo noted that ensuring adequate LPG availability remains a top priority of the Federal Government, stressing that Nigerians should not bear the burden of avoidable supply disruptions.
Rising prices worsen pressure on households
The latest intervention comes as many families struggle to refill their gas cylinders amid rising prices.
In several cities, the retail price of cooking gas has climbed steadily in recent months, with some dealers selling as high as N2,500 per kilogramme.
According to a report by PetroleumPriceNG, the sharp increase has sparked concerns among consumers and energy experts, who warn that persistently high prices could force millions of households to revert to firewood and charcoal, undermining Nigeria's clean energy transition goals.
Industry stakeholders have linked the price surge to supply constraints, foreign exchange challenges and fluctuations in international LPG prices.
FG reaffirms commitment to affordable energy
Ekpo reiterated the government's commitment to making cooking gas more affordable and accessible to Nigerians.
He explained that ongoing discussions with stakeholders are aimed at improving domestic supply, encouraging investments in gas infrastructure and ensuring that market bottlenecks are quickly resolved.
The minister added that the NMDPRA will continue to monitor developments in the sector and work closely with marketers to guarantee a stable supply chain.
He stressed that Nigeria, with its vast natural gas reserves, should not experience prolonged shortages or unaffordable LPG prices, assuring citizens that efforts are underway to bring relief to consumers.
Hope for price stability
Energy analysts believe that increasing imports and strengthening coordination among industry players could help ease supply pressures in the short term.
However, they also emphasise the need for long-term investments in storage facilities, transportation networks and domestic gas production.
Source: UGC
For millions of Nigerians already battling high living costs, the Federal Government's latest move offers hope that cooking gas prices may eventually moderate, bringing much-needed relief to households across the country.
Cooking gas landing cost crash
Legit.ng earlier reported that the landing cost of imported petroleum products in Nigeria, including Premium Motor Spirit (PMS), commonly known as petrol, and liquefied petroleum gas (LPG), also known as cooking gas, has dropped significantly, offering fresh hope for lower energy prices across the country.
New data released by the Major Energy Marketers Association of Nigeria (MEMAN) showed that the cost of bringing fuel products into Nigeria has now fallen below the ex-depot prices offered by the Dangote Refinery.
The development comes as petroleum marketers reportedly imported fuel cargoes valued at about N279 billion to boost supply and take advantage of declining international market prices, according to a report by Punch.
Source: Legit.ng
