The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, Takes Action on Rising LPG Prices in Nigeria’s Domestic Market”<\/p>\n
“Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has stepped in to address the challenges posed by the consistent increase in the price of liquefied petroleum gas (LPG) in Nigeria. This intervention comes in response to the recent surge in the price of LPG per kg, soaring from around N700 to over N900 in various parts of the country.<\/p>\n
Expressing the urgency of federal intervention, Mr. Ekpo stated, ‘With the increase in the price of LPG, there is a need for the Federal Government to intervene, and I am that representative at this moment.’<\/p>\n
Following a stakeholders’ meeting, Ekpo delegated the responsibility to a committee led by Farouk Ahmed, Chief Executive Officer of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA). The committee has been tasked with finding a solution within one week. The meeting included key officials from Chevron Nigeria Limited, NNPC Ltd., and NMDPRA, with Ekpo emphasizing the need to address challenges such as FX sourcing for imports and insufficient supply to the domestic market by producers to curb the LPG price increase<\/p>\n
He expressed the concerns of President Bola Tinubu over the astronomical increase in the price of cooking gas and the attendant hardship for the majority of citizens.<\/p>\n
The minister noted that the increase manifested when some multinational firms were more concerned with gas exports without dedicating huge volumes to the domestic market.<\/p>\n
Mr Ekpo said this was unacceptable and should be discouraged since the country had abundant gas reserves.<\/p>\n
\u201cWe acknowledge that some producers are exporting while we are faced with the challenges of importation. Public interest is the overriding interest all over the world for the government, and the demand for LPG will increase as we approach December,\u201d explained the minister.<\/p>\n
He noted that the firms \u201chave a public service obligation to collaborate with the government to ensure the security of gas supplies,\u201d calling for the need to \u201cbend backwards and find solutions to ensure that we have sufficient supply and stability in country and that Nigerians have gas.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, Takes Action on Rising LPG Prices in Nigeria’s Domestic Market” “Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has stepped in to address the challenges posed by the consistent increase in the price of liquefied petroleum gas (LPG) in Nigeria. This intervention comes […]<\/p>\n","protected":false},"author":10,"featured_media":8087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-8078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/8078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=8078"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/8078\/revisions"}],"predecessor-version":[{"id":8163,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/8078\/revisions\/8163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/8087"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=8078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=8078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=8078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}