The Federal Government has announced its plan to bring down the price of of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas.
The latter from about N7,000 for a 12.5 kilogram (kg) in November 2023, has risen by about 57 per cent in nearly four months to about N18,000 now.
The Minister of State (Gas Resources), Ekperikpe Ekpo, on Thursday, said the government is desirous of reversing the situation by banning its exportation.
Ekpo stated this at the “Internal Stakeholders’ Workshop,” themed, “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”
The Minister said by halting export of cooking gas, it would boost domestic supply and consequently reduce price.
According to him, “With the issue of gas, you have seen the demonstration of the Federal Government by withdrawing all taxes and levies from the importation of gas-related equipment. It is a big incentive.
“On the issue of LPG (cooking gas), we are interacting with the critical sectors 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.”
