Hardship: FG Suspends Exportation Of Cooking Gas In Bid To Tame Rising Prices

The Federal Government of Nigeria has declared the immediate suspension of Liquefied Petroleum Gas (LPG) exports in an effort to slow the soaring cost of cooking gas.

The suspension of LPG exports was declared by Ekperikpe Ekpo, the state minister for petroleum resources, at an Abuja “Internal Stakeholders’ Workshop.”

According to him, the action is a part of a calculated attempt to increase LPG supply on the domestic market in order to lessen the financial strain that rising costs are placing on customers.

According to Ekpo, talks are still going on with important parties including the Nigerian Midstream and Downstream Petroleum Regulatory Authority and big players like Mobil, Chevron, and Shell.

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According to him, the discussions are aimed at collaboratively addressing challenges faced by consumers and ensuring a more stable and affordable cooking gas market.

The minister emphasised the importance of halting the exportation of locally produced LPG, intending to keep the entire production within the country.

He added that by doing so, the government anticipates an increase in the volume available for the domestic market, potentially leading to a reduction in prices and providing relief to consumers grappling with the high cost of cooking gas.

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“There is that hope that things will turn around. We don’t need to make noise about it,” he said.

BusinessDay reports showed Nigerians are feeling the heat, not just from their stoves, but from their wallets as the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, skyrocketed to N1,300 per kilogram, early this month

This sharp increase, up from less than N500 in 2018, sent shockwaves through households nationwide, adding another layer of burden to an already strained population.