Latest news

Why hike in cooking gas price may persist —Marketers

No comments

The Nigerian Association of Liquefied Petroleum Gas Marketers has said that the current hike in the price of cooking gas might persist if the activities of Liquefied Petroleum Gas (LPG) Terminal Owners and Off Takers are not checked.

The Executive Secretary of NALPGAM, Mr Bassey Essien told News Agency of Nigeria in Lagos on Friday that the development had led to an increase in the price of cooking gas from N2, 600 to about N4, 500 in retail outlets.

Essien said that the Nigerian Liquefied Natural Gas vessel on November 13, supplied products to two terminals in Lagos to reduce the scarcity within the South-West zone.

He said that this was in line with the Federal Government’s approval for the allocation of about 350,000MT of gas per annum for local consumption through the NLNG.

Essien said the product was distributed through the terminals/off takers to gas marketers who eventually distribute to end-users.

“We noticed recently that gas delivered to terminals/off takers sold at N3.2 million per 20 MT a week ago suddenly jumped to between N4 million and N4. 3 million per 20 MT at the terminals.

“This singular action has taken cooking gas beyond the reach of ordinary Nigerians who are forced to pay a higher price for product that the price structure from NLNG has not significantly changed.

“We, therefore, dissociate our association (NALPGAM) from such exploitative acts of the terminals who are taking the industry and stakeholders for granted,’’ he said.

Essien said the upsurge in the price of cooking gas was detrimental to the efforts of the Federal Government at deepening cooking gas utilisation in the country.

He said that with this development, many Nigerians would go back to using kerosene and firewood which had attendant health effects.

“A filling station which was selling 300 litres of kerosene a week has seen its sales increased to about 6,000 litres because people who cannot afford gas due to the increment are going back to kerosene.

(NAN)

opabiredWhy hike in cooking gas price may persist —Marketers

Leave a Reply

Your email address will not be published. Required fields are marked *