The Nigerian Association of Liquefied Petroleum Gas Marketers has raised concerns over the artificial rise in cooking gas prices across the country. According to the National President, Oladapo Olatunbosun, the current prices, which have skyrocketed to between ₦1,700 and ₦2,000 per kilogram, are not a result of an official price increase, but rather market opportunists taking advantage of the shortage in supply.
Olatunbosun explained that the scarcity is caused by the crisis between members of the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Dangote Refinery, which has led to a reduction in the supply of liquefied petroleum gas. He stated that before the strike, Dangote Refinery was producing and supplying about 50 trucks of gas per day, which helped to stabilize prices. However, due to the strike and renovation at the refinery, the supply was disrupted, leading to a surge in prices.
The president attributed the high prices to marketers who are cashing in on the shortage, describing it as “wrong” and stating that the association “frowns” on such practices. He assured that the scarcity will soon be addressed, as products are being trucked out across the country. Olatunbosun noted that the national gas consumption has increased, with a surge in demand, and that the average price should not be more than ₦1,300 per kilogram.
He emphasized that buying products from third parties or the black market can drive up prices, which is illegal. Olatunbosun advised consumers to purchase gas from reputable sources, such as gas plants, where the price is maximum ₦1,300 per kilogram. With the strike now over, and products being discharged and trucked out, the scarcity is expected to “fizzle out” by the weekend.
The development has significant implications for consumers and the economy, as cooking gas is a widely used commodity in Nigeria. The Nigerian Association of Liquefied Petroleum Gas Marketers has reiterated its commitment to ensuring a stable supply of gas and combating artificial price hikes. As the situation returns to normal, consumers can expect a reduction in prices, and the market is expected to stabilize, providing relief to those affected by the scarcity.