Federal Government Plans to Make Nigerians Happy with Cooking Gas Price Reduction
Sunday 26 November 2023
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Prepare for a game-changing move by the Federal Government as they set out to bring smiles to the faces of Nigerians grappling with soaring cooking gas prices! In a bold initiative led by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, top industry players, including Chevron Nigeria Limited and the Nigerian Midstream Downstream Petroleum Regulatory Authority, gathered at the NNPC Towers in Abuja to tackle the pressing issue head-on.
Witnessing an alarming increase from approximately N700 to over N1,100 per kg in certain regions, the spike in Liquefied Petroleum Gas (LPG) prices prompted this high-stakes meeting. Minister Ekpo, echoing the concerns of President Bola Tinubu, is championing a cause to alleviate the burden on citizens facing hardships due to the exorbitant cooking gas prices. CONTINUE READING.......
The meeting highlighted crucial challenges, such as foreign exchange sourcing for imports and insufficient supply to the domestic market by producers. With Nigeria boasting abundant gas reserves, the minister strongly criticized multinational firms for prioritizing gas exports over meeting local demand, deeming it unacceptable.
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In a passionate plea, Minister Ekpo emphasized the urgent need for Federal Government intervention, stating that the current situation cannot be tolerated. The focus is on discouraging multinational firms from neglecting the domestic market to ensure a fair balance and provide relief to citizens facing the brunt of the price surge. CONTINUE READING.......
As the government gears up for this transformative intervention, hopes are high for a significant reduction in cooking gas prices, marking a pivotal moment in the quest for economic relief for the majority of Nigerians.
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