Consumers of cooking gas should be getting ready for harder times as there are signs that gas prices may rise further, with a 12.5kg cooking gas price hitting close to N20,000, if nothing is done by the Federal Government to check the activities of the terminal owners.
Reports by Punch says ,that the President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, disclosed that the price of Liquefied Petroleum Gas also known as cooking gas has “gone astronomically high at terminals as a result of a sudden increment from between N9-N10m per 20 metric tons to N14m per 20 metric tons.
“There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, price could reach as high as N18m per metric tons by December. This means that a 12.5kg could go as high as N18,000.”
He admonished terminal owners for “hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masse,” adding that there was no justification for the proposed increment, since the Nigerian Liquefied Natural Gas are still responsible for the supplies of the product to the market.
He further accused NLNG for hiding under the cover of ‘privatisation’ to increase prices, thus further traumatizing consumers, stressing that by the time the price increment is effected, not many people would be able to afford cooking gas for their daily cooking as many will resort to firewood.
This will be hugely disappointing for most people who had believed in the Tinubu administration that, in line with his promises of ‘renewed hope’, that things will be better.
Olatunbosun, according to Punch revealed that the NNPCL currently takes 59 per cent of the gas produced by NLNG, although NLNG has also increased its price from N6m to N8m. Now, because NLNG has increased price, NNPCL and terminal owners have increased price to N14m.
“The increase in price that would take effect is not the fault of retailers. It is the fault of NLNG and terminal owners. Even NNPCL is hiding under the guise that they are now privatised to increase prices. As of last week, 1kg was N800 at the terminal, now it is N1,200, and could reach N1,500 by December if care is not taken,” Punch reports.
