FG moves to stop LPG export to arrest soaring price of cooking gas

The Federal government on Thursday said there would soon be stoppage of the exportation of Liquefied Petroleum Gas also known as cooking gas to reduce the scarcity and soaring price in the country.

Minister of State, Petroleum Resources, Ekperikpe Ekpo, stated this at the “Internal Stakeholders’ Workshop,” in Abuja.

The theme of the workshop is “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”

Speaking on what the government has done to control the rising cost of domestic gas, he added, “The ministry is discussing constantly with critical stakeholders like the Nigerian Midstream and Downstream Petroleum Regulatory Authority and operators such as Mobil, Chevron, and Shell to address the issue.

“Once there is a stoppage of the export of locally produced domestic gas, there will be more volume for the domestic market which will automatically reduce the price of the product.

He said, “All LPG produced within the country will have to be domesticated. And when this is done, the volume will increase and of course, the price will automatically crash.

“I am in contact with the regulator, NMDPRA, we hold meetings almost on daily basis, and the producers such as Mobil, Chevron, and Shell. So there is the hope that things will turn around.”