The Federal Government, through the Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpoh, has said it is interacting with the critical sectors to halt the exportation of Liquefied Petroleum Gas (LPG), also known as cooking gas given its rising cost, adding that all LPG produced within the country would be domesticated to crash the price of gas.
The Minister made this known at the opening of its Internal Stakeholders’ Workshop on Thursday in Abuja.
According to the News Agency of Nigeria (NAN), the workshop across the gas value chain on repositioning the nation’s gas sector has its theme “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development “.
“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 regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the producers of LPG such as Chevron, Mobile and Shell; we have meetings on a daily basis.
“There is hope that things will turn around, we do not need to make noise about it, and it is based on this that we are having this engagement to find out the problems and address them once and for all,” Ekpo said.
On converting vehicles to Compressed Natural Gas (CNG) to cushion the effect of fuel subsidy removal, Ekpo said he has been interfacing with the Presidential Initiative on CNG towards realising the goal.
He said, “The moment I get a clearer picture about it, I will address you accordingly.”
NAN checks showed that cooking gas prices increased to N1,400 against N950 per kg in January 2024.
NAN
