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  • Business - Economy
  • Updated: January 07, 2022

Cooking Gas Price Drops As Government Promises Further Decrease

The price of liquefied petroleum gas, popularly known as cooking gas, has fallen to its lowest level since its astronomical rise started around September last year.

According to our correspondent, the price of a 12.5kg of cooking gas has dropped from N8,800 to between N8,400 and N7,500, depending on the outlet, while a 3kg of cooking gas sells for between N1,800 and N1,500.

The reduction in the price of cooking gas is somewhat connected to the federal government's promise to reduce the price by flooding the market with cooking gas.

According to the group managing director, Mele Kyari, the painful rise in the price of cooking gas was connected to the fall in supply in the international market.

As a result of this rise, some people have resorted to the use of charcoal, kerosene, and other unhealthy options.

Some three weeks ago, the federal government, through NNPC, promised to address the price of cooking gas by increasing the supply with the opening of more gas depots.

Speaking at Emadeb Energy Services Limited's 120-metric ton LPG storage and bottling plant in Abuja, the group managing director, promised Nigerians that the price of cooking gas was going to come down.

This news also comes on the heels of President Muhammadu Buhari's speech aimed at lifting the masses out of poverty.

Speaking against the backdrop of this development, Dayo Adeshina, the Programme Manager, National LPG Expansion Implementation Plan, Office of the Vice President, said,

"It is in the government’s interest for the price to go down consistently, and there are certain initiatives that are being taken at the moment, which hopefully will see further drops in price regardless of the international cost."

When contacted he, said: "This is a welcome development as continued supply should drag the price of cooking gas much lower.

"The masses are already going through a lot, with inflation hitting an all-time high. A reduction in the price of cooking gas, no matter how low, should go a long way towards providing relief.

"I still expect the government to intensify efforts on other programs that will help address the sufferings the masses are going through."

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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