The Federal Government has convened an emergency stakeholder meeting in Abuja to address the sharp rise in the price of cooking gas (Liquefied Petroleum Gas, LPG), which has become a major concern for households and businesses across the country.
At the meeting, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, described the situation as a matter of national concern and directed regulators and industry players to develop urgent measures to stabilize prices and ensure adequate supply.
The government attributed the recent price increases to several factors, including:
- Foreign exchange volatility
- Rising transportation and logistics costs
- Infrastructure constraints
- Fluctuations in international LPG prices
As part of the response, the Federal Government ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to strengthen market oversight, engage producers and marketers, and crack down on the hoarding, diversion, and illegal storage of cooking gas. Operators found manipulating supply or distorting prices could face sanctions.
The intervention comes as cooking gas prices have surged to around ₦2,000–₦2,500 per kilogram in some locations, placing additional pressure on consumers already dealing with high living costs.
Industry stakeholders said efforts are underway to increase supply, including higher import volumes and additional domestic production expected from new gas facilities coming on stream later this year
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