THE minister of state Petroleum Resources (Gas), Ekperikpe Ekpo, has expressed worries over the increasing cost of liquefied petroleum gas (LPG), commonly known as cooking gas.
He declared that it is unacceptable for Nigerians to be paying for the product at a premium price.
The minister spoke on the sidelines of a stakeholders meeting held in Abuja on Tuesday, October 22.
“As minister of state for petroleum resources (gas), I am deeply concerned about the persistent rise in the price of cooking gas.
“It is unacceptable that Nigerians pay premium prices for a commodity that we produce in abundance,” Ekpo lamented in a statement shared on his X handle..
He said despite previous efforts, including the establishment of a high-level committee led by Farouk Ahmed, the chief executive of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), to address the issues, the price of cooking gas has continued to fluctuate.
He observed that, recently, the price of cooking gas has reached as high as N1,500 per kilogram from an average of N1,100–N1,250.
“On Tuesday, I convened a meeting with key stakeholders in Abuja to address these price increases and the hardship they bring to Nigerians,” Ekpo said.
The minister then directed the regulatory authorities to carry out short and long-term measures to address the skyrocketing price of cooking gas, worsening hardships faced by Nigerians.
On short-term measures, Ekpo said the NNPCL and LPG producers must halt exports of LPG produced in-country or import equivalent volumes at cost-reflective prices, effective from November 1.
He also directed the NMDPRA to engage stakeholders to create a domestic LPG pricing framework within 90 days, focusing on the cost of local production rather than external market indices like those from the Americas or Asia.
On long-term plans, he said, “Within 12 months, we will develop facilities to blend, store, and deliver LPG domestically. Exports will cease until the market achieves stability and sufficiency.”
The minister believes that the measures are essential to improving LPG availability, stabilising prices, and easing the economic burden on Nigerians.
“Our goal is to ensure that every Nigerian can access affordable cooking gas,” Ekpo said.
In its monthly report on LPG released on Thursday, October 17, the National Bureau of Statistics said the average retail price for refilling a 5kg cylinder of cooking gas increased by 4.19 per cent on a month-on-month basis from N6,430.02 in August to N6,699.63 in September.
On a year-on-year basis, it surged by 59.90 per cent from N4,189.96 in September 2023.
Also, the report showed that the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 4.89 per cent on a month-on-month basis from N15,552.56 in August to N16,313.43 in September.
On a year-on-year basis, it rose by 76.41 per cent from N9,247.40 in September 2023.
The increasing cost of cooking gas has forced many Nigerians to shift the use of sawdust charcoal and firewood to make a living, amid their damaging effects on human health.
In a report, The ICIR revealed how constant exposure to smoke from cooking with firewood puts people at risk of respiratory issues and bad eyesight.