Home Oil & Gas FG constitutes committee to crash cooking gas price

FG constitutes committee to crash cooking gas price

Cooking gas -lagospost.ng

The federal government has constituted a committee to address the high cost of cooking gas, supply constraints and charged it bring down the price within a week.

The intervention was exercised by the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo who waded into the challenges of supply as well as the pricing of Liquefied Petroleum Gas (LPG) in the nation’s domestic market.

In a statement by Ekpo’s media, Louis Ibah, the intervention on cooking gas follows the rise in recent months in the price of LPG per kg from about N700 to above N1000 in some parts of the country.

Ibah said key challenges identified as responsible for LPG price increase include FX sourcing for imports and insufficient supply to the domestic market by producers.

The statement said the minister called a meeting with top officials of Chevron Nigeria Limited led by Sansay Narasimi; Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) led by its Chief Executive Officer, Farouk Ahmed and the NNPCL, at the NNPC Towers Abuja.

The minister noted that Nigeria is abundantly endowed with gas reserves, said the situation where some of the multinational firms were more concerned with gas exports without dedicating huge volumes to the domestic market was unacceptable and should be discouraged.

The minister then created the committee under the leadership of the NMDPRA boss and charged them with the mandate to come up with recommendations on how to boost supplies and crash LPG prices within a week.



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