FG Stops Export Of Cooking Gas To Reduce Price

In a bid to alleviate the scarcity and surging prices of cooking gas in Nigeria, the Federal Government announced on Thursday, February 23, that it has stopped the exportation of Liquefied Petroleum Gas (LPG), commonly known as cooking gas. Minister of State for Petroleum Resources, Ekperikpe Ekpo, delivered this news during the “Internal Stakeholders’ Workshop” held in Abuja, with the theme “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”

Addressing concerns about the rising cost of domestic gas, Ekpo revealed ongoing discussions between the Ministry and key stakeholders such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as well as major operators like Mobil, Chevron, and Shell. The objective is to collaboratively tackle the issue and implement effective measures.

The decision to halt the exportation of locally produced domestic gas aims to bolster supply within the Nigerian market, thereby reducing prices. By prioritizing the needs of the domestic market, the government anticipates a more equitable distribution of LPG, leading to improved affordability and accessibility for consumers across the country.

Ekpo emphasized that this strategic move aligns with the government’s commitment to leveraging Nigeria’s abundant gas reserves for economic growth and development. By harnessing these resources effectively and prioritizing the interests of domestic consumers, the government seeks to foster a more sustainable and inclusive energy sector that benefits all stakeholders.

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 daily basis, and the producers such as Mobil, Chevron, and Shell. So there is that hope that things will turn around. We don’t need to make noise about it.”