FG moves to reduce cooking gas price

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The Federal Government has taken steps to address challenges related to the supply and pricing of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, in the domestic market.

The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, intervened following a surge in LPG prices from about N700 to over N1,100 per kg in certain regions.

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The minister convened a meeting with officials from Chevron Nigeria Limited, the Nigerian Midstream Downstream Petroleum Regulatory Authority, and the Nigerian National Petroleum Corporation Limited to discuss key issues causing the LPG price hike, including challenges in foreign exchange sourcing for imports and inadequate domestic supply.

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Emphasizing Nigeria’s abundant gas reserves, the minister expressed concern over multinational firms prioritizing gas exports over domestic market needs.

He highlighted the government’s commitment to public interest and formed a committee to provide recommendations within a week to boost supplies and reduce LPG prices.

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