NNPC BOSS BLAMES COOKING GAS PRICE HIKE ON STRIKE-INDUCED SUPPLY DISRUPTION

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By Aishat Momoh. O.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, has attributed the recent surge in cooking gas prices to temporary supply disruptions caused by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) strike.

Ojulari made this known while speaking to State House correspondents on Sunday after a meeting with President Bola Tinubu at the Presidential Villa, Abuja.

He explained that the industrial action halted loading and distribution activities for several days, creating an “artificial” spike in prices.

“The increase you saw was relatively artificial because during the strike, movements and loading were delayed by about two to three days,” Ojulari said. “As things return to normal, it will take a short while for distribution to stabilise fully.”

The strike, which was launched over the dismissal of some Nigerian workers at the Dangote Refinery, was suspended on October 1 following federal government intervention.

Ojulari also accused some retailers of taking advantage of the brief disruption to inflate prices beyond normal levels.

“As you know, in Nigeria, people take opportunities. With that delay, some of those who already had stock decided to raise prices,” he said.

He assured Nigerians that with supply chains now restored and operations at the Dangote Refinery resuming, prices would soon return to their pre-strike levels.

“My expectation is that now that things are back to normal, prices should return to what they were before the strike,” Ojulari added.