NALPGAM BLAMES OPPORTUNIST MARKETERS FOR COOKING GAS PRICE SOAR
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The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has attributed the recent increase in cooking gas prices to transient supply interruptions and opportunism by certain providers, urging for regulatory measures to prevent exploitation.
NALPGAM President Olatunbosun Oladapo characterized the price escalation as “unmerited,” referencing a recent strike by PENGASSAN that suspended activities at vital facilities, including the Dangote Refinery, resulting in a supply deficit.
Intermediaries have since escalated costs, with merchants charging as much as ₦3,000 per kilogram, up from ₦1,300 previously. A 12.5 kg cylinder is now priced between ₦17,500 and ₦25,000, while a 5 kg cylinder ranges from ₦6,000 to ₦10,000, reflecting a significant increase from figures recorded in August.
The disturbances, instigated by a strike in late September, resulted in empty depots in Apapa and postponed vessel docking, intensifying shortages in urban areas such as Lagos and Abuja.
Bayo Ojulari, the CEO of NNPC Limited, affirmed that the disruptions are only temporary, with prices anticipated to stabilize as operations resume; however, ongoing refinery maintenance may lead to minor delays.
NALPGAM has called upon the NMDPRA to oversee retailers for practices of hoarding and price gouging, while also promoting diversified supply chains to avert future crises.
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