FG Holds Emergency Meeting Over Price Of Cooking Gas

The Federal Government (FG) has convened an emergency stakeholders’ meeting to address the recent increase in the price of Liquefied Petroleum Gas, also known as cooking gas.

Naija News reports that the meeting brought together government officials, regulators, producers, marketers, terminal operators and industry associations to examine factors responsible for the price hike.

The Permanent Secretary, Ministry of Petroleum Resources, Patience Oyekunle, described LPG as a critical energy source for households and a key part of Nigeria’s energy transition agenda.

According to her, the rising cost of cooking gas was putting additional pressure on household budgets and increasing the cost of essential goods.

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said President Bola Tinubu was concerned about the impact of rising LPG prices on Nigerians.

Ekpo said the President had directed relevant agencies to take proactive measures to address the situation.

He added that increased supply must be backed by efficient logistics, improved infrastructure and transparent pricing to ensure consumers benefit from government interventions.

The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Rabiu Umar, said high landing costs remained a major factor influencing LPG prices.

Umar, however, expressed optimism that ongoing measures across the value chain would ease market pressure in the coming weeks.

He said the authority was working with producers and stakeholders to increase domestic supply, strengthen market oversight and improve product availability.