The federal government has directed the Nigerian National Petroleum Company (NNPC) Limited and liquefied petroleum gas (LPG) producers to stop exporting the product by November 1.
The federal government has directed the Nigerian National Petroleum Company Limited and liquefied petroleum gas producers to stop exporting the product by November 1.
“Despite previous efforts, including the establishment of a high-level committee led by Mr. Farouk Ahmed, the Chief Executive of the Nigerian Midstream Downstream Petroleum Regulatory Authority , to address the issues, prices have continued to fluctuate, recently reaching N1,500 per kg from an average of N1,100–N1,250.”The minister said he issued three directives to address the skyrocketing price of the product and its attendant hardship on Nigerians.
He said NMDPRA and stakeholders should create a domestic LPG pricing framework within 90 days, which will index the price to the cost of production in the country.
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