Gas retailers have issued a warning that the cost of a 12.5kg cooking gas cylinder could reach N18,000 by December if the Federal Government does not take steps to regulate the activities of terminal owners.
He said âThere is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, price could reach as high as N18m per metric tons by December. This means that a 12.5kg could go as high as N18,000.â
President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, revealed that the price of cooking gas, also known as Liquefied Petroleum Gas (LPG), has significantly skyrocketed at terminals.
âNNPCL currently takes 59 per cent of the gas produced by NLNG, although NLNG has also increased its price from N6m to N8m. Now, because NLNG has increased price, NNPCL and terminal owners have increased price to N14m.
âThe increase in price that would take effect is not the fault of retailers. It is the fault of NLNG and terminal owners. Even NNPCL is hiding under the guise that they are now privatised to increase prices. As of last week, 1kg was N800 at the terminal, now it is N1,200, and could reach N1,500 by December if care is not taken.
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