Worried by escalating cost of cooking gas, Liquefied Petroleum Gas – LPG, in Nigeria, the Federal Government has put a lid on further exportation.
The Minister of State for Petroleum Resources, Ekperikpe Ekpo, announced the suspension of LPG exportation during an “Internal Stakeholders’ Workshop” held in Abuja. The theme of the workshop is “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”
Asked what the government has done to control the rising cost of domestic gas, he said the move is part of a strategic effort to boost the availability of LPG within the domestic market, to alleviate the financial burden on consumers due to surging prices.
Ekpo revealed ongoing discussions with critical stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as well as major operators like Mobil, Chevron, and Shell.
He assured that the discussions are aimed at collaboratively addressing challenges faced by consumers and ensuring a more stable and affordable cooking gas market.
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The minister emphasized the importance of halting the exportation of locally produced LPG, intending to keep the entire production within the country.
He added that by doing so, the government anticipates an increase in the volume available for the domestic market, potentially reducing prices and relieving consumers grappling with the high cost of cooking gas.
“There is that hope that things will turn around. We don’t need to make noise about it,” he said.
