“COOKING GAS CRISIS: FG CRACKS DOWN ON HOARDERS AS PRICES SOAR”
GREATRIBUNETVNEWS–THE Federal Government has ordered a clampdown on marketers hoarding or exploiting consumers amid the recent surge in Liquefied Petroleum Gas (LPG) prices. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority to intensify monitoring of LPG depots nationwide .
Causes of the Price Hike
The price surge is attributed to two main factors :
– PENGASSAN strike at Dangote Refinery: The industrial action temporarily halted LPG loading, disrupting local supply.
– Maintenance work at Nigeria LNG Train 4 facility: Reduced gas output to the domestic market, exacerbating the supply shortage.
Government’s Response
Ekpo assured Nigerians that the situation is temporary and would normalize by next week. The government is working to :
– Stabilize supply: Resuming operations at the Dangote Refinery and NLNG facilities.
– Prevent hoarding: Intensifying monitoring and sanctioning defaulters.
– Ensure affordability: Committing to sufficient and affordable gas supply for all households.
Relief on the Horizon
With production and loading activities resuming, industry watchers predict a gradual return to normalcy. Consumers are urged to remain patient as supply stabilizes nationwide .
He explained that the strike action temporarily halted LPG loading, while the maintenance activity at NLNG reduced the volume of gas available for domestic use, creating a demand–supply imbalance.
The minister, however, disclosed that the situation was gradually improving, as operations had resumed at the Dangote Refinery, with LPG loading to the domestic market already underway.
He added that the Bonny River Terminal operated by Seplat Energy had also commenced loading, while NLNG was nearing completion of its maintenance and resuming normal operations.
“With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices,” Ekpo said.
The minister reiterated that the LPG market remains deregulated and urged marketers, distributors, and other players along the gas value chain to be patriotic in their dealings. He warned them against hoarding or exploiting consumers for profit.
To ensure compliance, Ekpo directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of LPG depots nationwide to curb hoarding and other sharp practices that could worsen the current situation.
He reaffirmed the Federal Government’s commitment to ensuring adequate and affordable gas supply to households across Nigeria.
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