Our reporter/ The federal government on Thursday announced the suspension of liquefied petroleum gas (LPG) exports.
Ekperikpe Ekpo, minister of state for petroleum resources (gas), who made the disclosure during an “Internal Stakeholders’ Workshop” in Abuja, said the action is part of a deliberate attempt to increase the availability of LPG in the domestic market and lessen the financial strain on customers due to the hike in the price of the commodity.
“We are interacting with critical stakeholders to ensure that there is no exportation of LPG. All LPG produced within the country will have to be domesticated. When this is done, the volume will increase and of course, the price will automatically crash,” he said.
“I am in contact with the regulation, NMDPRA, we hold meetings almost on a daily basis, and the producers such as Mobil, Chevron, and Shell. So, there is that hope that things will turn around. We don’t need to make noise about it.”
The minister underlined the need for banning the export of domestically manufactured LPG, saying the entire production will be utilised within the country.
According to him, the expected increase in the volume available for the domestic market and price reductions would bring relief to customers struggling with the high cost of cooking gas.
The development comes amid a rise in the price of the product.
The average retail price for refilling a 12.5kg cylinder of LPG has increased to N14,560 in February.
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