KEY POINTS
• The Federal Government has held an emergency meeting with stakeholders to address rising cooking gas (LPG) prices in Nigeria.
• Officials cited high landing costs and supply challenges as key factors driving the price increases.
• The government says it is working on measures to improve supply, infrastructure, and pricing transparency to stabilise the market and ease pressure on households
The Federal Government has convened an emergency stakeholders’ meeting to address the recent surge in Liquefied Petroleum Gas, LPG, commonly known as cooking gas, prices across Nigeria.
The meeting brought together government officials, regulators, producers, marketers, terminal operators, and industry associations to review the causes of the price increase and propose measures to stabilise supply and improve affordability.
Officials at the meeting expressed concern over the impact of rising LPG prices on households, noting that many families are now facing increased pressure on their monthly budgets.
The Permanent Secretary of the Ministry of Petroleum Resources, Patience Oyekunle, described LPG as a critical energy source for Nigerian households and a key part of the country’s energy transition plan.
She warned that rising costs could also contribute to higher prices of essential goods and services across the economy.
Presidency Directs Action on LPG Market
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said President Bola Tinubu has directed relevant agencies to take urgent steps to address the situation.
He noted that the administration is concerned about the effect of rising cooking gas prices on citizens and is committed to ensuring stability in the domestic energy market.
Ekpo added that efforts must focus on improving supply, strengthening infrastructure, and ensuring transparency in pricing across the LPG value chain.
The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Rabiu Umar, attributed the increase in LPG prices largely to high landing costs.
He explained that import and logistics expenses continue to affect the final price of cooking gas in the domestic market.
However, Umar expressed optimism that ongoing interventions in the sector would help reduce pressure on prices in the coming weeks.
He also stated that the NMDPRA is working with producers and stakeholders to boost domestic supply, enhance market monitoring, and improve product availability nationwide.
Authorities at the meeting agreed on the need for coordinated action across the LPG value chain to ensure stability and affordability for consumers.
Stakeholders discussed measures to improve supply efficiency, reduce bottlenecks in distribution, and enhance transparency in pricing mechanisms.
Officials said these interventions are expected to help ease market pressure and make cooking gas more accessible to Nigerian households.
While immediate relief has not been guaranteed, government officials indicated that ongoing policy and regulatory measures are expected to gradually stabilise LPG prices.
They reiterated the administration’s commitment to ensuring energy affordability as part of broader economic reforms aimed at improving living conditions for Nigerians.
