FG moves to reduce cooking gas prices through targeted imports

The Federal Government has announced plans to reduce the rising cost of liquefied petroleum gas (LPG), commonly known as cooking gas, by approving targeted imports to address supply shortages.

 

The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Rabiu Umar, disclosed the measure during a recent stakeholders’ meeting.

 

According to him, imports remain the quickest option to bridge the current supply gap and stabilise prices across the country.

 

“Imports represent the only immediate option for filling the gap created in supply, aside from the prospect of MT supply from Anoh,” Umar said.

 

He also stressed the need to expand LPG storage, terminal and distribution infrastructure nationwide, while accelerating domestic gas processing projects to boost local production and prioritise domestic supply.

 

Umar noted that the current cooking gas price of about ₦2,100 per litre is driven by market forces and supply shortages, rather than being cost-effective.

 

Cooking gas prices have risen sharply in recent weeks, climbing from about ₦1,200 per litre to as high as ₦2,100 per litre in Abuja, forcing many households to resort to firewood and other cheaper alternatives for cooking.