The Federal Government has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of Liquefied Petroleum Gas (LPG) depots nationwide to curb hoarding and sharp practices amid rising prices.
The directive was issued by the Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, in a statement on Monday through his spokesperson, Louis Ibah.
Ekpo expressed concern over the recent surge in cooking gas prices, which have climbed from ₦1,000–₦1,100 to ₦1,500–₦1,700 per kg in some areas.
Reasons for the Price Hike:
- Industrial action by PENGASSAN at Dangote Refinery, halting LPG loading temporarily.
- Maintenance activities at the NLNG Train 4 facility, reducing domestic supply.
“These disruptions caused a supply shortfall, leading to a demand-supply imbalance and higher prices,” Ekpo said.
Relief Measures Underway:
- Dangote Refinery has resumed LPG loading.
- Seplat Energy’s Bonny River Terminal has begun operations.
- NLNG is gradually returning to full operations as maintenance wraps up.
Supply is expected to stabilise by next week, with a gradual drop in prices anticipated.
Ekpo reminded the public that the LPG market is deregulated, and urged marketers and distributors to avoid hoarding or exploiting consumers. He reassured Nigerians that the government is committed to making gas affordable and available to all households.
