The Federal Government has implemented a ban on the exportation of Liquefied Petroleum Gas, commonly known as cooking gas, aiming to boost its availability domestically and drive down prices.
According to an announcement on Thursday, LPG producers in Nigeria and industry stakeholders have been directed to cease exporting the commodity out of the country, especially in light of the recent surge in the price of cooking gas.
Recent reports indicate that the cost of refilling a 12.5kg cylinder of cooking gas in cities like Abuja, Lagos, and Kano has risen significantly, reaching about N18,000. Specifically, in Abuja on Thursday, the price was recorded at N17,500, a sharp increase from less than N9,000 in November of the previous year.
Members of the Nigerian Association of Liquefied Petroleum Gas Marketers had foreseen this increase mid-last year, predicting that a 12.5kg cylinder would eventually cost N18,000 due to consistent price hikes.
To address this issue, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, established a committee in November 2023, led by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed.
However, despite these efforts, the price of cooking gas has continued its upward trend, prompting many users to consider alternatives like charcoal.
Speaking at an internal stakeholders’ workshop in Abuja on Thursday, Ekpo disclosed that the Federal Government had instructed LPG producers to halt exports of the commodity.
