FG Takes Action As Cooking Gas Prices Surge Across Nigeria Full Details

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has instructed regulatory authorities to crack down on marketers hoarding Liquefied Petroleum Gas (LPG), popularly known as cooking gas, amid the recent surge in prices nationwide.

In a statement released on Monday by his spokesman, Louis Ibah, Ekpo described the actions of some marketers as exploitative and warned that the government would not allow Nigerians to endure undue hardship.

Cooking gas prices have recently jumped from an average of ₦1,000 per kilogram to as high as ₦2,000/kg in certain areas. The increase followed a strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the Dangote refinery and ongoing maintenance at the Nigeria LNG Train 4 facility.

Although the strike ended nearly two weeks ago, prices have remained high and shortages persist.

Ekpo explained the causes of the scarcity:

“The strike by PENGASSAN at the Dangote refinery temporarily halted LPG loading, while maintenance at NLNG reduced the volume of gas available in the domestic market.”

He noted that these disruptions created a supply shortfall, triggering the steep rise in prices.

The minister, however, assured Nigerians that supply is already improving:

“Operations have resumed at the Dangote refinery with LPG loading to the domestic market underway. The Bonny River Terminal, operated by Seplat Energy, has also commenced loading, while NLNG is gradually restoring normal operations as maintenance nears completion.”

Ekpo added that with these developments, supply is expected to stabilize by next week, which should gradually lead to a drop in prices.

While reiterating that the LPG market is deregulated, the minister cautioned marketers and distributors against hoarding or exploiting consumers for profit:

“The LPG market is deregulated, and stakeholders must be patriotic in their dealings. They should desist from hoarding and refrain from exploiting consumers.”

He further disclosed that the Nigerian Midstream and Downstream Petroleum Regulatory Authority has been instructed to intensify monitoring of LPG depots nationwide to curb hoarding and unfair practices.

Ekpo reassured Nigerians that the Federal Government remains committed to ensuring sufficient and affordable gas supply for all households across the country.