Skyrocketing price of cooking gas: NNPC to increase supply of product

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Skyrocketing price of cooking gas:
NNPC to increase supply of product

* Says increase in supply will crash the price

Following the skyrocketing price of Liquefied Petroleum Gas ( LPG), commonly known as cooking gas, forcing some Nigerians to use firewood, the Nigerian National Petroleum Corporation (NNPC), is putting measures in place to crash down the price.

The Corporation said it will force down the price by increasing the supply of cooking gas across the country.

The Group Managing Director of NNPC,
Mele Kyari, made this known, giving the assurance that the Corporation will take pragmatic steps to achieve its objectives

Kyari, who spoke during the commissioning of 120 metric tons of LPG storage and bottling plant by Emadeb Energy Services Limited, expressed concern about the rising cost of cooking gas.

According to him, the supply chain and the price of gas at international market are the two major factors that must be taken into consideration in addressing the issue.

He explained that the hike in price of LPG is a reflection of the trend on what is happening in the international market, as gas price is moving with the prices of other petroleum products including crude oil and its derivatives.

He informed ;
“What we are doing is to increase supply of LPG. The moment supply is increased, the prices will crash down.
The Federal Government is ready to boost the supply and give necessary support to gas companies operating in Nigeria”.

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