The Federal Government, through the Minister of State for Petroleum Resources-Gas, Ekperikpe Ekpo has banned the exportation of the Liquefied Petroleum Gas, LPG, also known as cooking gas.
Ekpo, stated this yesterday during a meeting with major stakeholders in the LPG value chain to discuss the rising cost of the commodity and the hardship they impose on Nigerians, with the prices of the commodity having increased from an average of 1,100 to 1,525 Naira per kilogram.
The Minister outlined several directives, including that starting from November 1, 2024, the Nigerian National Petroleum Company Limited, NNPCL and LPG producers must halt the export of domestically produced cooking gas, noting that if they choose to continue exporting, they will be required to import an equivalent volume at cost-reflective prices.
Other directives include that Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA will engage stakeholders within 90 days to create a domestic cooking gas pricing framework, while announcing government plan to develop infrastructure for blending, storing, and distributing LPG over the next 12 months, with the aim of stopping exports until domestic supply is sufficient and prices stabilize
