The Nigerian National Petroleum Company (NNPC) Limited says the current escalating price of cooking gas in the country is not peculiar to Nigeria as it is internationally driven.
The Group Managing Director of NNPC Limited, Mele Kyari, who disclosed this at a forum in Abuja on Monday, said NNPC was currently increasing the supply of Liquefied Petroleum Gas in a bid to force down prices.
The cost of cooking gas has since the start of the year been on the rise peaking at more than 240 per cent between January and October 2021, a situation that has forced many users to shift to other crude sources of energy such as charcoal or firewood.
According to NNPC Limited boss, two things are in play in the gas price increase.
“One is the supply in the international market of gas. It moves with the price of every other petroleum product including crude oil and its derivatives. So definitely, it is a reflection of what is happening in the international market. However, the second is what we are doing is to increase supply and once supply increases, price will come down?”
Meanwhile, the Managing Director/Chief Executive Officer, Emadeb Energy Services, Adebowale Olujini, has asked the government to support LPG investors.