The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has appealed to marketers, distributors, and other stakeholders in the Liquefied Petroleum Gas (LPG) value chain to desist from hoarding and exploiting consumers for profit.
To ensure compliance, the minister said he had directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of LPG depots across the country to prevent hoarding and other sharp practices that could worsen the current situation.
The appeal followed the recent scarcity and sharp increase in the price of cooking gas, which has risen from ₦1,000–₦1,100 per kilogram to as high as ₦1,500–₦1,700 per kilogram in some parts of the country.
In a statement on Monday signed by his spokesman, Louis Ibah, the minister expressed concern over the situation and urged Nigerians to remain calm, assuring that it is temporary.
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He explained that the price surge was caused by “the industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the Dangote Refinery, which temporarily halted LPG loading,” as well as “ongoing maintenance activities at the Nigeria LNG Train 4 facility,” which reduced domestic supply.
According to him, the disruptions led to a shortfall in supply and a consequent rise in prices due to demand–supply imbalance.
While reassuring Nigerians of sufficient and affordable gas supply, Ekpo stated that operations at the Dangote Refinery had resumed and LPG loading for domestic supply was already underway.
He added that the Bonny River Terminal, operated by Seplat Energy, had also begun loading, while the Nigeria LNG was gradually restoring normal operations as maintenance neared completion.
“With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices,” he said.
Ekpo also reminded stakeholders that the LPG market was deregulated and urged them to act responsibly.
He appealed to marketers, distributors, and all stakeholders along the LPG value chain “to be patriotic in their dealings, desist from hoarding, and refrain from exploiting consumers for profit.”
The minister reassured Nigerians that the Federal Government remains committed to ensuring sufficient and affordable gas supply to households nationwide.