In a bid to address the growing scarcity and surging prices of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, the Federal Government of Nigeria has taken decisive action by halting its exportation. The announcement was made by the Minister of State for Petroleum Resources, Ekperikpe Ekpo, during the “Internal Stakeholders’ Workshop” held in Abuja on Thursday, February 23.
The workshop, themed “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development,” provided the platform for the minister to unveil the government’s strategy to alleviate the challenges facing the domestic gas market.
Responding to inquiries about measures taken to curb the rising costs of domestic gas, Minister Ekpo disclosed ongoing discussions with key stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as well as major operators such as Mobil, Chevron, and Shell. He emphasized the need to prioritize the domestic market by ceasing the exportation of locally produced LPG, thereby increasing its availability within the country.
Ekpo articulated, “We are interacting with critical stakeholders to ensure that there is no exportation of LPG. 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.”
Highlighting the frequency of engagements with regulatory bodies and industry players, Ekpo expressed optimism about the potential impact of these collaborative efforts in stabilizing the domestic gas market. He concluded, “I am in contact with the regulation, NMDPRA, we hold meetings almost on daily basis, and the producers such as Mobil, Chevron, and Shell. So there is that hope that things will turn around. We don’t need to make noise about it.”
