Federal Government Implements Ban On Cooking Gas Exports

Federal Government Implements Ban On Cooking Gas Exports....KINDLY READ THE FULL STORY HERE▶

The Nigerian federal government has implemented a ban on the exportation of cooking gas as part of a strategy to lower prices domestically and ensure greater availability of the product. Minister of State for Petroleum Resources, Ekperikpe Ekpo, disclosed this development on Thursday during a stakeholders workshop in Abuja themed “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.” Ekpo emphasized that by halting the export of locally produced domestic gas, there will be an increase in the volume available for the domestic market, resulting in an automatic reduction in the product’s price.

He further elaborated that ongoing discussions with key stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as well as industry operators such as Mobil, Chevron, and Shell, are aimed at addressing the challenges. Ekpo expressed optimism that these efforts would lead to positive changes, stating, “We are interacting with critical stakeholders to ensure that there is no exportation of LPG. All LPG produced within the country will have to be domesticated. And when this is done, the volume will increase, and of course, the price will automatically crash. I am in contact with the regulation, NMDPRA; we hold meetings almost on a daily basis, and the producers such as Mobil, Chevron, and Shell. So there is that hope that things will turn around. We don’t need to make noise about it.”

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