How Stopping LPG Exports Will Affect Gas Prices in Nigeria
The Nigerian government has recently taken steps to lower the price of cooking gas by halting the export of Liquefied Petroleum Gas (LPG).
This move aims to increase domestic supply and alleviate the soaring prices that have burdened households.
Minister of State for Petroleum Resources, Ekperikpe Ekpo, confirmed that the decision was part of ongoing efforts to ensure enough gas is available within the country, with the expectation that this will help bring down the cost of cooking gas, which has seen significant hikes in recent months.
This action is accompanied by discussions with key industry players such as Mobil, Chevron, and Shell to ensure compliance and stabilize the market.
The government is hopeful that these measures will reduce the price of LPG and offer relief to consumers, many of whom have faced escalating costs for household energy needs.