The Federal government of Nigeria has implemented a ban on the exportation of cooking gas to drive down prices and ensure availability within the country, as announced by the Minister of State for Petroleum Resources, Ekperikpe Ekpo, on Thursday.
Ekpo revealed this decision during a stakeholders workshop in Abuja with the theme, “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”
The minister emphasized that halting the export of domestically produced gas will increase volumes available for the domestic market, consequently reducing the product’s price.
He further stated ongoing discussions with key stakeholders like the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and major operators such as Mobil, Chevron, and Shell to address the issue effectively.
His words: “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. And when this is done, the volume will increase and of course, the price will automatically crash.
“I am in contact with the regulation, NMDPRA, we hold meetings almost on 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.”
