The Federal Government has directed a clampdown on Liquefied Petroleum Gas (LPG) marketers hoarding or exploiting consumers following the sharp increase in the price of cooking gas across the country<\/p>\n\n\n\n
This directive was issued by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo<\/strong>, in a statement signed by his spokesperson, Louis Ibah<\/strong>, on Monday.<\/p>\n\n\n\n In recent weeks, the price of cooking gas has soared from about \u20a61,000 per kilogram<\/strong> to nearly \u20a62,000\/kg<\/strong> in some locations, despite the suspension of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN)<\/strong> strike that disrupted operations at the Dangote Refinery<\/strong>.<\/p>\n\n\n\n Ekpo, expressing concern over the sustained high prices and scarcity, appealed to Nigerians for calm, assuring that the situation was temporary and expected to stabilise soon.<\/p>\n\n\n\n \u201cThe sharp rise in prices was triggered by two main factors \u2014 the industrial action by PENGASSAN at the Dangote Refinery and ongoing maintenance at the Nigeria LNG Train 4 facility,\u201d he explained.<\/p>\n<\/blockquote>\n\n\n\n According to the minister, the strike temporarily halted LPG loading activities at the Dangote Refinery, while maintenance work at NLNG<\/strong> reduced gas supply to the domestic market, creating a demand\u2013supply gap and pushing prices upward.<\/p>\n\n\n\n He, however, noted that the situation was improving, as operations had resumed at the Dangote Refinery with LPG loading already underway. The Bonny River Terminal<\/strong>, operated by Seplat Energy<\/strong>, had also started loading, while NLNG<\/strong> was gradually restoring operations as maintenance neared completion.<\/p>\n\n\n\n \u201cWith these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices,\u201d Ekpo assured.<\/p>\n<\/blockquote>\n\n\n\n Reiterating that the LPG market remains deregulated<\/strong>, the minister urged marketers and distributors to act responsibly and refrain from hoarding or exploiting consumers for profit.<\/p>\n\n\n\n To enforce compliance, he directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)<\/strong> to intensify monitoring of LPG depots nationwide to curb hoarding and other unfair practices that could worsen the situation.<\/p>\n\n\n\n Ekpo reaffirmed the Federal Government\u2019s commitment to ensuring an adequate and affordable supply of cooking gas for Nigerian households.<\/p>\n\n\n\n \u201cThe government remains resolute in guaranteeing sufficient and affordable LPG supply to homes across the country,\u201d he said.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":" The Federal Government has directed a clampdown on Liquefied Petroleum Gas (LPG) marketers hoarding or exploiting consumers following the sharp increase in the price of cooking gas across the country This directive was issued by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in a statement signed by his spokesperson, Louis Ibah, on…<\/p>\n","protected":false},"author":2,"featured_media":2663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[528,38],"tags":[2136,2132,2138,2133,2134,2139,2141,2135,2140,2137],"class_list":["post-2662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","category-news","tag-cooking-gas-hike","tag-cooking-gas-price","tag-dangote-refinery","tag-ekperikpe-ekpo","tag-fg-orders-clampdown","tag-gas-scarcity","tag-lpg-deregulation","tag-lpg-marketers","tag-nigeria-energy-news","tag-nlng"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n
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