Prices of Liquefied Petroleum Gas, otherwise called cooking gas, may rise as supply dips by 5.5 per cent to 85,066.546 metric tonnes in September, from 90,017.002 MT recorded in August.
There are apprehensions that 12.5 kg of cooking gas, currently selling for N8,500, could rise to between N9,000 and N10,000 in view of the coming Christmas.
In its September 2021 LPG report, the Petroleum Products Pricing Regulatory Agency, which is the Nigeria Midstream and Downstream Petroleum Regulatory Agency, stated that of the 85,066.546 MT supplied, 51,847.085 MT representing 60.95 per cent, is sourced locally, while 33,219.461 MT, representing 39.05 per cent, were imported.
It also stated that a bulk of the domestic supply was sourced from the Nigeria Liquefied Natural Gas while the imports came from the United States, Algeria and Equatorial Guinea.
The President, Nigeria LPG Association, Nuhu Yakubu, said the association had been engaging with relevant agencies with a view to addressing the issues.
At the 11th International Conference and Exhibition in Lagos, he said, “As an association, we are currently engaging with respective government agencies in addressing issues around LPG supply, particularly access to foreign exchange value-added tax, levies, etc. We believe our efforts will yield positive results in good time.
“Also, it is not far-fetched to state, therefore, that sustaining the growing adoption of LPG through sector-friendly policies and programmes will inadvertently support economic growth that will yield jobs and wealth creation. It is our collective responsibility to make this happen.”
