12.5kg cooking gas cylinders now cost N13,500.

Liquefied petroleum gas (LPG), popularly referred to as cooking gas, has soared in price to N13,500 per 12.5kg cylinder in Lagos. A petrol vendor told New Telegraph yesterday that the significant depreciation of the naira against the dollar was to blame for the increase.

He bemoaned the fact that the same 12.5kg was sold for N9,500 last month but is now N13,500. He claims that the increase has decreased sales as a result of customers’ furious complaints about the price increase and lack of funding.

“They told us the increment was due to the exchange rate,” he said. They claimed that because they were importing it, the exchange rate had an effect on the pricing. We sold it for N9,500 before it rose to N10,000, N12,000, and N13,500 over the ensuing weeks.

If the Federal Government does not control the actions of terminal owners, the price of 12.5kg of cooking gas might reach N18,000 by December, gas dealers have previously warned.
Olatunbosun Oladapo, the president of the Nigerian Association of Liquefied Petroleum Gas Marketers, had issued a warning that if the Federal Government did not impose restrictions on the operations of the terminal owners, the price of 12.5kg of cooking gas may soar to N18,000 by December.

Oladapo had lamented that the abrupt increase in the price of petrol from N9 million to N10 million per 20 metric tonnes to N14 million per 20 metric tonnes had caused the price to “go astronomically high at terminals.”
“Gas prices are absurdly rising at the moment, and if the Federal Government does not intervene to restrain the actions of these terminal owners, the price may rise to N18 million per metric tonne by December. Accordingly, a 12.5 kilogramme might cost as much as N18,000,” he said.

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Meanwhile, Dr Philip Mshelbila, the managing director and managing director of Nigeria LNG Limited (NLNG), has stated that for Nigeria to increase its gas investment and reap the benefits from gas, it must be deliberate in its desire to take opportunities offered by the energy transition, the recognition of gas as a transition fuel, and the search for clean energy.

According to a statement made by Yemi Adeyemi, Acting Manager, Corporate Communications and Public Affairs, NLNG, he said this yesterday during the visit of the Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, to the NLNG plant on Bonny Island, Rivers State.