Breaking News

‘We know them’ – Marketers identify cabal behind rising price of cooking gas in Nigeria

Cooking gas marketers under the Nigerian Association of Liquified Petroleum Gas Marketers (NALPGAM) have identified Liquified Petroleum Gas (LPG) terminal operators responsible for the country’s high cooking gas cost.

Oladapo Olatubosun, the association’s President, disclosed this when they met the Senate Committee on Gas in the company of the group members on Monday, October 23, 2023.

Operators hike product prices and sell to marketers

The commodity’s price recently increased to N1,200 per kilogram, with many Nigerians lamenting its high cost amid surging inflation and high living standards.

According to Olatubosun, the product price would have remained low since the terminal operators get the price at cheaper costs from the Nigeria LPG plant. He stated that the terminal owners get the product at N9 million for 20 metric tons and sell it to the marketers at N16.8 million per 20 metric tons.

He said: “You buy gas for N9m from NLNG and pay in naira, then you sell the same gas for N16m and blackmail the government. When people get to our plants, and we tell them the price, they start weeping and cursing the government, whereas the government has done its best to make life bearable to the people.”

He said that the Senate will address the effects of climate change and greenhouse emissions.

Marketers predict an increase by December 2023

Legit.ng reported that marketers predicted that the price of refilling a 12.5kg cylinder with Liquefied Petroleum Gas (cooking gas) is set to rise as high as N18,000 by December 2023.

This was disclosed by Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGM).

Oladapo noted that there has been a sudden increment from between N9-N10 million per 20 metric tons to N14 million per 20 metric tons, Punch reports.

He warned that if the federal government doesn’t intervene, the gas price could reach N18 million per metric ton by December.

This means a 12.5kg cooking gas cylinder could go for as high as N18,000……CONTINUE.FULL.READING>>>

About the author

Baba Voss

A Prolific Writer, Vast In Series of Publications Basically on Politics, Entertainment, Sport, Life Style, Fashion, Business, Technology, Health, History etc.

Leave a Comment

x