The Federal Government has announced the halt of cooking gas exportation in a bid to lower the price of the commodity in Nigeria.
Minister of State for Petroleum Resources, Ekperikpe Ekpo, made this known during the ‘Internal Stakeholders’ Workshop’ in Abuja, with the theme ‘Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development’.
Ekpo stated that the country would temporarily stop exporting Liquefied Petroleum Gas (LPG), commonly known as cooking gas, to address the scarcity and steep price surge within the country.
“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. When this is done, the volume will increase, and the price will automatically crash,” Ekpo said.
He further mentioned ongoing discussions with regulatory bodies and major producers such as Mobil, Chevron, and Shell, expressing optimism about a positive turnaround.
The minister emphasized the need for increased domestic production to stabilize prices, noting that these efforts were being pursued diligently without the need for public outcry.
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