FG Bans Export of Cooking Gas to Crash Price Amid its Skyrocketing Prices

By: The New Diplomat

Cat:

February 22, 2024

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By Isaac Akerele

The Federal Government of Nigeria has banned the exportation of Liquefied Petroleum Gas (LPG), also known as cooking gas. This is to crash the price of cooking gas in Nigeria by increasing the volume available within the country.

The Minister of State (Gas) Petroleum Resources, Mr. Ekperikpe Ekpo, announced the suspension of LPG exportation in Abuja, stating that discussions are ongoing with stakeholders to ensure a stable and affordable LPG market.

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According to him, the move is part of a strategic effort to boost the availability of LPG in the domestic market, following a continuous surge in gas prices since last year. The Federal government anticipates lessened financial burdens on consumers through this move.

As of today, Thursday, 22nd of February, the cost of refilling a 12.5kg cylinder of cooking gas in some states in Nigeria has risen as high as N18,000. Recall that the Nigerian Association of Liquefied Petroleum Gas Marketers predicted late last year, that a 12.5kg cylinder might cost N18,000 following a continuous hike in its price.

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