The Federal Government has stopped the exporting of Liquefied Petroleum Gas (LPG) also known as cooking gas, to reduce its scarcity and soaring price in the country.
Minister of State, Petroleum Resources, Ekperikpe Ekpo, broke the news in Abuja on Thursday, February 23, at the “Internal Stakeholders’ Workshop,” with the theme, “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”
Asked what the government was doing about the rising cost of domestic gas, he said, the ministry was discussing constantly 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 export of locally produced domestic gas stopped, there would be more volume for the domestic market which will automatically reduce the price of the product.
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.”
