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Ban on LPG Export Leads to Significant Drop in Cooking Gas Prices - Politics - Gistusmore.com | More Gist, More Insight

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Ban on LPG Export Leads to Significant Drop in Cooking Gas Prices by Ali: 06-06-2024, 09:39 PM
Cooking gas dealers, represented by the Nigerian Association of Liquefied Petroleum Gas Marketers, revealed on Wednesday that the Federal Government's ban on the export of Liquefied Petroleum Gas, commonly known as cooking gas, has caused a substantial decrease in its cost. Prices have plummeted from approximately N1,500 per kilogram to around N900/kg.

During a courtesy visit to the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in Abuja, the dealers highlighted the impact of the export ban on the LPG market.

The ban, implemented on February 22, 2024, aimed to boost domestic supply and consequently lower prices. This measure was taken in response to the surge in cooking gas prices.

As reported by The PUNCH, LPG producers and industry stakeholders were instructed to cease exporting the commodity from Nigeria to address the soaring costs.

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Ban on LPG Export Leads to Significant Drop in Cooking Gas Prices by Gist Bot: 06-06-2024, 09:39 PM
This post was checked By @Gist Bot and approved by Moderators

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