The government of Nigeria has banned the exportation of Liquefied Petroleum Gas (LPG) better known as cooking gas to increase its availability in the country.
The government on Thursday, February 22, 2024, directed LPG producers in Nigeria and key stakeholders to stop exporting the commodity out of the country.
The directive followed the recent increase in the price of the product.
Findings showed that the cost of refilling a 12.5kg cylinder of cooking gas in Abuja, Lagos, Kano, and some other states had climbed to about N18,000. It was specifically N17,500 in Abuja on Thursday, a product that sold for less than N9,000 in November last year.
LPG dealers under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers had predicted mid-last year that a 12.5kg cylinder would cost N18,000 going by the incessant hikes in its cost.
Announcing the development, the Minister of State, Petroleum Resources, Ekperikpe Ekpo, while speaking at the “Internal Stakeholders’ Workshop,” in Abuja said all LPG produced in the country now has to be domesticated.
He said, “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.
“Indian am in contact with the regulation, NMDPRA, we hold meetings almost on a 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.”