The federal government announced on Thursday, February 23, that it has stopped the exportation of Liquefied Petroleum Gas (LPG), also known as cooking gas, to reduce the scarcity and soaring price in the country.
Minister of State, Petroleum Resources, Ekperikpe Ekpo, broke the news to reports at the “Internal Stakeholders’ Workshop” in Abuja.
The workshop theme is “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”
Asked what the government has done to control the rising cost of domestic gas, he said the ministry is constantly discussing with critical stakeholders like the Nigerian Midstream and Downstream Petroleum Regulatory Authority and operators such as Mobil, Chevron, and Shell to address the issue.
He explained that once the export of locally produced domestic gas stops, there will be more volume for the domestic market, which will automatically reduce the product’s price.
His words: “We are interacting with critical stakeholders to ensure that there is no exportation of LPG.
“All LPG produced within the country will have to be domesticated. And when this is done, the volume will increase, and of course, the price will automatically crash.
“I am in contact with the regulation, NMDPRA; we hold meetings almost on a daily basis, and the producers, such as Mobil, Chevron, and Shell. So there is hope that things will turn around. We don’t need to make noise about it.”
