The Federal Government has initiated a process to resolve challenges bordering on the supply and pricing of Liquefied Petroleum Gas in the country’s domestic market better known as cooking gas. The PUNCH reports that key challenges identified as responsible for LPG price increase include FX sourcing for imports and insufficient supply to the domestic market by producers. Ekpo expressed the concerns of President Bola Tinubu over the astronomical increase in the price of cooking gas and the attendant hardship on the majority of citizens. The minister who noted that Nigeria is abundantly endowed with gas reserves, said the situation where some of the multinational firms were more concerned with gas exports without dedicating huge volumes to the domestic market was unacceptable and should be discouraged. He said, “With the exponential increase in the price of LPG, there is the need for the Federal Government to intervene and I am representing this at this moment.

Source: Punch November 27, 2023 07:15 UTC