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FG Orders Sanctions on Gas Marketers Over Price Exploitation
The Federal Government has directed a nationwide clampdown on gas marketers exploiting consumers amid the recent surge in the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, gave the directive in a statement issued by his spokesperson, Louis Ibah, on Monday.
Cooking gas prices recently spiked from an average of ₦1,000 per kilogramme to about ₦2,000/kg in some areas, following a strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over its dispute with the Dangote Refinery.
Despite the suspension of the strike nearly two weeks ago, prices have remained high while scarcity persists.
Expressing concern, Ekpo appealed for calm, assuring Nigerians that the situation was temporary and would stabilise soon.
“The sharp increase in price was caused by two main factors the industrial action by PENGASSAN at the Dangote refinery and the ongoing maintenance activities at the Nigeria LNG Train 4 facility,” he explained.
The minister noted that PENGASSAN’s strike temporarily halted LPG loading, while maintenance at NLNG reduced gas volumes in the domestic market. This disruption, he said, led to a shortfall in supply and a demand-supply imbalance, resulting in the price hike.
Ekpo confirmed that operations had resumed at both the Dangote Refinery and NLNG, noting that gas loading and distribution were already underway to ease supply pressure.
“With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices,” Ekpo stated.
He emphasized that the LPG market remains deregulated, urging marketers and distributors to act responsibly and avoid hoarding or exploiting consumers for profit.
“Marketers, distributors, and all stakeholders along the LPG value chain must be patriotic in their dealings, desist from hoarding, and refrain from exploiting consumers for profit,” the statement added.
To enforce compliance, the minister has mandated the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of LPG depots nationwide and penalize sharp practices.
Ekpo reaffirmed the Federal Government’s commitment to ensuring a steady, sufficient, and affordable gas supply to households across Nigeria.
