Cooking Gas Crisis: FG Summons Emergency Meeting As Prices Skyrocket Nationwide

The Federal Government (FG) has convened an emergency stakeholders’ meeting to address the recent surge in the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas.....KINDLY READ THE FULL STORY HERE▶

The meeting brought together government officials, regulatory agencies, producers, marketers, terminal operators and industry associations to review the factors driving the price increase.

The Permanent Secretary of the Ministry of Petroleum Resources, Patience Oyekunle, described LPG as a vital household energy source and a key component of Nigeria’s energy transition strategy. She noted that the rising cost of cooking gas is placing additional strain on household finances while also contributing to higher costs of essential commodities.

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, stated that President Bola Tinubu is concerned about the escalating price of LPG and its impact on Nigerians. He added that the President has directed relevant agencies to take urgent and proactive steps to address the situation.

Ekpo further emphasized that boosting supply must be supported by efficient logistics, improved infrastructure and transparent pricing mechanisms to ensure that consumers fully benefit from government interventions.

The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Rabiu Umar, identified high landing costs as a major factor influencing the current price levels of LPG.

However, he expressed optimism that ongoing interventions across the value chain would help stabilize the market in the coming weeks. He also noted that the authority is collaborating with producers and stakeholders to enhance domestic supply, strengthen regulatory oversight and improve product availability nationwide.