Abuja, Feb. 22, 2024 – The Federal Government is to stop export of Liquefied Petroleum Gas (LPG), also known as cooking gas, to reduce the current high prices.
Ekperikpe Ekpo, the Minister of State, Petroleum Resources, said this in Abuja on Thursday at an Internal Stakeholders’ Workshop.
The theme of the workshop was “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”
He said the ministry was discussing with critical stakeholders like the Nigerian Midstream and Downstream Petroleum Regulatory Authority and operators such as Mobil, Chevron, and Shell to address the issue of high prices of gas
The minister said that once the export of locally produced domestic gas was stopped, there would be more volume for the domestic market which would automatically reduce the price of the product.
“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.” (GBN)
