Abak, April 12, 2024 – Obongemem Ekpo, the Minister of State for Petroleum (Gas), says the federal government is planning to bring down the price of cooking gas to affordable level.
The minister said this at a meeting with stakeholders in Abak Local Government Area of Akwa Ibom State.
He attributed the current high price of the product to exportation of the product, adding that the government planned to make the product more readily availability in the country.
“This can be achieved through the establishment of gas plants at various parts of the country, which is what the Ministry is currently working on and advocating for.
“The reason for the current price hike is due to scarcity as a result of exportation. The high demand for it has also made the local dealers take advantage of the situation and sell at a higher rate.
“We are working seriously to arrest this situation through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which is saddled with the responsibility of gas price fixing.
“Nigeria’s blending of LPG is 40:60 (propane and butane). But some companies produce and blend their gas to their specific blend like 50:50 or 30:70, which is not the blend that is needed here.
“So, recently, we convened a meeting with the International Oil Companies (IOCs), urging them to stop selling their gas (LPG) outside the country.
“We have moved a step further to look for a blending plant that would blend it to our specification,” Ekpo said. (GBN)
