Two Main Reasons Why Experts Predicted That The Price Of Cooking Gas Is About To Skyrocket And The Outrage By Populace 

Two Main Reasons Why Experts Predicted That The Price Of Cooking Gas Is About To Skyrocket And The Outrage By Populace ....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie Omo-Ikirodah

A recent review by Nairametrics conducted during the past weekend and public holiday unveiled a worrying trend: the cost of liquefied petroleum gas (LPG), more commonly referred to as cooking gas, has soared to an alarming N1000 per kilogram in specific regions of Nigeria. CONTINUE READING

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For instance, in localities like Gwagwalada and Kubwa within Abuja, the Federal Capital Territory (FCT), and even Amuwo-Odofin in Lagos State, the price for a 12.5kg cooking gas refill ranges anywhere from N10,500 to N12,000.

Speaking to Nairametrics, natural gas specialist, Dan D. Kunle, highlighted that this surge in LPG prices was expected, given the pronounced increase in demand for the gas.

Significantly, May 2023 witnessed President Tinubu announcing the removal of petrol subsidies, a decision that spurred entities like the Nigerian Liquefied Petroleum Gas Association (NLPGA) to advocate for more economically viable fuel alternatives. A prominent proposition was transitioning to Autogas/LPG.

Mr. Kunle elaborated, “When you have a product in high demand with limited production, prices are bound to soar.” He attributed the current LPG price inflation to:

1. Limited investments in local natural gas exploration.
2. A decline in associated gas production stemming from prevalent crude oil theft.

Additionally, Mr. Kunle pointed out that Nigeria’s solution to combat this challenge was to resort to importing LPG. However, international LPG prices can be volatile, with processing and shipping costs further exacerbating the situation for end-users. CONTINUE READING

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Even though the Nigeria Liquefied Natural Gas (NLNG) Limited promised a steady LPG supply under the domestic liquefied petroleum gas (DLPG) scheme, a drop in gas supply volumes has been observed recently. Kunle stated, “A combination of aging infrastructure, vandalism, and lack of enthusiasm in investments has brought us here.”

Furthermore, he emphasized Nigeria’s persistent issue: the inability to consistently implement policies. Drawing attention to the forgotten Butanization Policy of the 1980s, he outlined how it was designed to promote the switch from firewood to LPG. Kunle remarked, “We haven’t done enough to motivate the transition from unclean fuels to LPG or to tap into our rich gas resources.”

With such complications at play, it’s evident that Nigeria has significant challenges to overcome if it hopes to make LPG accessible and affordable for its citizens.

Take a look at some of the reactions below:

• @NaijaMom: “With everything going on, now they want to hike cooking gas prices? We can’t catch a break! 😡 #GasPriceHike”
• @LagosStudent: “Between school fees and now this cooking gas price rise, how do they expect us to survive? #NaijaStruggles”
• @ChefTunde: “As a chef, this impending gas price rise is going to affect my business significantly. We need solutions, not more problems! 🍲🔥 #SaveOurBusinesses”

Source: Bushradiogist