The federal government on Thursday said it has suspended the exportation of Liquefied Petroleum Gas (LPG), better known as cooking gas in order to address the issue of scarcity and increasing prices in the country.
Mr Ekperikpe Ekpo, the Minister of State and Petroleum Resources disclosed this to newsmen at the “Internal Stakeholders’ Workshop,” in Abuja.
The theme of the workshop is “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.” Continue Reading…
When asked what the government is doing to control the rising cost of domestic gas, he said, the ministry is discussing with critical stakeholders like the Nigerian Midstream and Downstream Petroleum Regulatory Authority and operators such as Mobil, Chevron, and Shell to tackle the matter.
The Minister explained that once there is a stoppage of the export of locally produced domestic gas, there will be more volume for the domestic market which will in turn reduce the price of the product.
He said, “We are interacting with critical stakeholders 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.
“I am in contact with the regulation, NMDPRA, we hold meetings almost on daily basis, and the producers such as Mobil, Chevron, and Shell. So there is that hope that things will turn around. We don’t need to make noise about it.” Continue Reading…
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