The Federal Government has directed a clampdown on marketers exploiting consumers amid a sharp rise in cooking gas prices, assuring Nigerians that supply will stabilise soon.
The Federal Government has ordered a clampdown on marketers hoarding or exploiting consumers amid the recent surge in cooking gas prices. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, issued the directive on Monday, warning that the Nigerian Midstream and Downstream Petroleum Regulatory Authority would intensify monitoring of LPG depots nationwide. Prices of Liquefied Petroleum Gas have recently jumped from about N1,000 to N2,000 per kilogramme, following the Petroleum and Natural Gas Senior Staff Association of Nigeria’s strike and ongoing maintenance at the Nigeria LNG Train 4 facility.
Ekpo said the disruptions caused a shortfall in supply, but assured Nigerians that the situation would normalise by next week as operations resume at the Dangote refinery and NLNG. “With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices,” he said, urging marketers to desist from hoarding and profiteering.