Cooking Gas:12.5kg Cylinder Hits N13,500
LAGOS OCTOBER 10TH (NEWSRANGERS)-The price of 12.5kg cylinder of Liquefied Petroleum Gas (LPG) also known as cooking gas has skyrocketed to N13,500 in Lagos. A gas retailer, who spoke to New Telegraph yesterday, said the increment was attributed to the high depreciation of the naira to the dollar.
He lamented that last month, they sold the same 12.5kg for N9,500 but now it has jumped to N13,500. According to him, the increment has reduced sales as many customers complained bitterly of the hike and paucity of fund.
He said: “They told us that the increment is because of the exchange rate. They said they were importing it and so the exchange rate affected its price. We sold it N9,500 many weeks ago before it jumped to N10,000, N12,000 and now it got N13,500.
It would be recalled that gas retailers had warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of terminal owners.
The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, had warned that with the price increase, the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.
Oladapo had decried that the gas price had “gone astronomically high at terminals as a result of a sudden increment from N9 million to N10 million per 20 metric tons to N14m per 20 metric tons.
“There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, the price could reach as high as N18 million per metric ton by December. This means that a 12.5kg could go as high as N18,000,” he said.
Meanwhile, the Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Dr Philip Mshelbila, has said that Nigeria must be deliberate in its desire to take opportunities offered by the energy transition, the recognition of gas as a transition fuel and the quest for clean energy to increase its gas investment and harvest the gains from gas.
He said this yesterday during the visit of the Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, to the NLNG plant on Bonny Island, Rivers State, according to a statement by the Acting Manager, Corporate Communications and Public Affairs, NLNG, Yemi Adeyemi.
The Minister was received by Dr. Mshelbila; General Manager, Production, Nnamdi Anowi; General Manager, External Relations and Sustainable Development Andy Odeh, and other management staff.
NewTelegraph
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Posted by News Rangers
on Oct 10 2023. Filed under Business, National.
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