The Federal Government has directed a crackdown on marketers allegedly involved in hoarding and diversion of Liquefied Petroleum Gas (LPG), following a recent spike in cooking gas prices across the country.
The directive was issued by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo during an emergency stakeholders’ meeting with regulators, producers, and industry operators.
He instructed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (Nigerian Midstream and Downstream Petroleum Regulatory Authority) and other agencies to intensify surveillance, investigate market manipulation, and sanction offenders found guilty of hoarding or diversion.
Authorities linked the rising LPG prices to global supply disruptions, including geopolitical tensions, as well as domestic challenges such as supply shortfalls, logistics constraints, and inadequate distribution infrastructure.
The government also urged producers, depot owners, and marketers to improve transparency, ensure fair distribution, and prioritise supply to the Nigerian market to stabilise prices.
