The Federal Government has intervened in the skyrocketing price of cooking gas in the country.
The Minister of Petroleum (Gas), Ekperikpe Ekpo, told producers that the country has to find a way to surmount the challenges in its domestic market.
He further called on International Oil Companies (IOCs) and other producers to fulfil their domestic obligations to Nigerians before exporting products.
He said President Bola Tinubu was concerned over how unaffordable gas was becoming to Nigerian households.
A statement signed by the minister’s media aide, Louis Ibah, said the intervention followed the price of the product in recent months.
Cooking gas is now sold per kilogram from about N700 to above N900 in some parts of the country.
Key challenges identified as responsible for the LPG price increase, Ekpo said, include FX sourcing for imports and insufficient supply to the domestic market by producers.
The meeting, at the minister’s request, was held at the NNPC Towers and had in attendance top officials of Chevron Nigeria Limited led by Sansay Narasimi.
Others included the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA) led by its Chief Executive Officer, Farouk Ahmed and officials from the Nigerian National Petroleum Company Limited (NNPC).
“Ekpo expressed the concerns of President Bola Tinubu over the astronomical increase in the price of cooking gas and the attendant hardship on majority of citizens,” the statement added.
