A statement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Monday stated that the move followed the recent increase in LPG prices and developed coordinated measures to improve supply, affordability, and market stability across the country.
A statement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Monday, stated that the meeting also brought together other key government officials, regulators, producers, marketers, terminal operators, and industry associations to examine factors contributing to rising LPG prices and agree on practical interventions to strengthen the value chain.
Speaking at the engagement, the Permanent Secretary, Ministry of Petroleum Resources, Patience Oyekunle, described LPG as a critical energy source for households and an important component of Nigeria’s energy transition agenda. She noted that rising LPG prices are putting additional pressure on household budgets and increasing the cost of essential goods, stressing the need for collective action to improve access to affordable cooking gas.
While speaking at the meeting, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, stated that President Bola Tinubu is concerned about the impact of rising LPG prices on Nigerians and has directed relevant agencies to take proactive steps to address the situation.
He emphasised that increased supply must be supported by efficient logistics, improved infrastructure, and transparent pricing mechanisms to ensure consumers benefit from interventions across the sector. READ ALSO: Qatar Gas Plant Blast Injures 54 People, 18 Missing On his part, the Authority Chief Executive of the NMDPRA, Mallam Rabiu Umar, noted that high landing costs continue to influence LPG prices but expressed optimism that ongoing measures across the value chain would begin to ease market pressures in the coming weeks.
The Authority also reported improvements following recent engagements with producers, suppliers, and terminal operators.