FG Stops Export Of Cooking Gas To Reduce Price

Imformation reaching the OsunReporters News confirmed that the federal government on Thursday, February 23, announced 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.

____While speaking, Minister of State, Petroleum Resources, Ekperikpe Ekpo, made it known at the “Internal Stakeholders’ Workshop with the theme “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development” in Abuja.

_____Asked what the government has done to control the rising cost of domestic gas, he said, the ministry is 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 there is a stoppage of the export of locally produced domestic gas, there will 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.”