The Nigerian government has embarked on a series of strategic engagements with key stakeholders to mitigate the surge in the price of Liquified Petroleum Gas (LPG), commonly referred to as cooking gas. This initiative was highlighted by Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), during an internal workshop held in Abuja on Thursday, as reported by Oluwakemi Ogunmakinwa, the Deputy Director of Press and Public Relations at the ministry.
The workshop, designed to rejuvenate the Nigerian gas sector, aligns with President Bola Tinubu’s Renewed Hope Agenda, aimed at harnessing the nation’s abundant gas resources to drive economic development and eradicate poverty.
A pivotal aspect of the government’s strategy involves preventing the exportation of LPG to prioritize domestic consumption. Minister Ekpo emphasized the need for all domestically produced LPG to remain within the country, a move expected to boost supply and drive down prices. To incentivize the sector further, the government has waived all taxes and levies on imports of gas-related equipment.
In his address, Minister Ekpo underscored ongoing discussions with regulatory bodies such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as well as major LPG producers including Chevron, Mobil, and Shell. These discussions aim to identify challenges and devise effective solutions to ensure the stability of the cooking gas market.
