The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has directed regulatory authorities to take action against marketers hoarding Liquefied Petroleum Gas amid a recent surge in cooking gas prices across Nigeria.
In a statement signed by his spokesman, Louis Ibah, on Monday, Ekpo condemned the actions of some marketers as exploitative and warned that the government would not permit Nigerians to suffer undue hardship.
The price of cooking gas has climbed in recent weeks from an average of ₦1,000 per kilogram to as high as ₦2,000 per kilogram in some parts of the country.
The increase followed industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria during its dispute with Dangote Refinery, as well as ongoing maintenance work at the Nigeria LNG Train 4 facility.
Although the strike was suspended nearly two weeks ago, prices have remained elevated while scarcity persists in many areas.
Explaining the causes of the shortage, Ekpo stated, “The strike by PENGASSAN at the Dangote refinery temporarily halted LPG loading, while the maintenance work at NLNG reduced the volume of gas available in the domestic market.”
He noted that these disruptions created a supply deficit, which triggered the sharp price increase.
The minister, however, assured Nigerians that supply conditions were already improving.
“Operations have resumed at the Dangote refinery with LPG loading to the domestic market already underway. The Bonny River Terminal operated by Seplat Energy has also commenced loading, while NLNG is gradually restoring normal operations as its maintenance nears completion,” Ekpo explained.
He added that with these developments, supply would stabilize by next week, leading to a gradual reduction in prices.
While acknowledging that the LPG market remains deregulated, the minister cautioned marketers, distributors, and other stakeholders against hoarding products or exploiting consumers for profit.
“The LPG market is deregulated and stakeholders must be patriotic in their dealings. They should desist from hoarding and refrain from exploiting consumers for profit,” the statement read.
Ekpo disclosed that the Nigerian Midstream and Downstream Petroleum Regulatory Authority has been directed to intensify monitoring of LPG depots nationwide to prevent hoarding and unethical practices.
He reassured Nigerians that the Federal Government remains committed to ensuring sufficient and affordable gas supply to households across the country.
The directive comes as millions of Nigerian households struggle with the rising cost of cooking gas, which has become a staple energy source for domestic use amid electricity supply challenges and the high cost of alternative fuels.
