Two weeks after the Federal Government moved to address the rising cost of cooking gas, retail prices remain high across Nigeria despite noticeable improvements in product supply.
Consumers in many parts of the country are still paying between ₦1,300 and ₦1,650 per kilogramme of liquefied petroleum gas (LPG), commonly known as cooking gas, even though supply has become more stable and market tensions have eased.
The Federal Government had convened an emergency stakeholders’ meeting in Abuja on June 22, led by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, following widespread complaints over product scarcity and the sharp increase in cooking gas prices.
The meeting brought together key stakeholders, including LPG producers, terminal operators, marketers and regulators, to identify the causes of the supply disruption and develop measures to restore stability to the market.
Industry marketers say the intervention has significantly improved product availability and reduced panic buying. However, they noted that retail prices have yet to return to previous levels due to lingering challenges such as high distribution costs, transportation expenses, foreign exchange pressures and operational costs across the supply chain.
Many households continue to struggle with the elevated cost of cooking gas, raising concerns over affordability as families grapple with the broader impact of inflation and the rising cost of living.
Stakeholders have expressed optimism that prices will gradually decline if the current supply stability is sustained and market conditions continue to improve in the coming weeks.
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