Eko Hot Blog reports that the federal government of Nigeria has banned the exportation of cooking gas as part of efforts to beat down the price within the country and make the product available.
This was made known on Thursday by the Minister of State, Petroleum Resources, Ekperikpe Ekpo.
Speaking at a stakeholders workshop in Abuja with the theme, “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development,” Ekpo explained that once there is a stoppage of the export of locally produced domestic gas, there will be more volume for the domestic market which will automatically reduce the price of the product.
Minister of State For Petroleum, Ekperikpe Ekpo of
He added that his ministry is constantly discussing with critical stakeholders like the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and operators such as Mobil, Chevron, and Shell to address the issue.
His words: “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.
President Bola Tinubu
“I am in contact with the regulation, NMDPRA, we hold meetings almost on 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.”
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