Gas Retailers Sound Alarm Over Potential N18,000 Price Tag for 12.5kg Cooking Gas Cylinders in Nigeria by December
Gas retailers are sounding the alarm, predicting that the cost of a 12.5kg cooking gas cylinder could soar to N18,000 by December if the Federal Government doesn’t intervene to curb the actions of terminal owners.
Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, expressed concerns about the skyrocketing prices of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, at terminals. He pointed out that prices had surged from around N9-N10 million per 20 metric tons to N14 million per 20 metric tons.
He warned that unless the Federal Government takes steps to regulate these terminal owners, prices could skyrocket to as high as N18 million per metric ton by December, potentially leading to a 12.5kg cooking gas cylinder costing as much as N18,000.
Oladapo attributed the price increases to terminal owners exploiting the excuse of high foreign exchange rates, despite the fact that the Nigerian Liquefied Natural Gas Limited continues to supply the market. He emphasized that the blame for these price hikes lies with NLNG and terminal owners.
He also raised concerns about the impact of these price increases on ordinary citizens, stating that many would find it increasingly difficult to afford gas, leading to a shift back to firewood and charcoal for cooking. Oladapo expressed disappointment that promises made by terminal owners to work with the government to improve the situation were not being fulfilled, leaving many to wonder about the pledged palliatives and bus donations.