12.5kg of Liquefied Natural Gas has hit N12,500 as Nigeria celebrates 63rd independent anniversary.
The Price in cooking gas spark up from N10,000 to 12,500 according to survey conducted in Lagos
It was reported that the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, has raised the alarm that the price of coking gas is likely to spark up if the federal government did not checkmate the activities of the terminal owners.
Despite the warning, The federal government is yet to do anything on the matter
“Yes, the price is now N1,000 per kilogram but the government is yet to step in despite a meeting we had with the NMDPRA,” he said.
According to olatunbosun, gas retailers still buy 20 metric tons of gas for N14m at the depot.
“We still buy a 20 MT truck at N14m at the depots. And the price of diesel has increased that it now costs N1.7m to take gas from Lagos to the North due to the high cost of diesel. If we sell here at N1,000 per 1kg, just imagine how much it would cost in the Middle East and North.
“What we pray for is for prices to come down so that the ordinary masses can benefit from the decade of gas policy of the Federal Government that seeks to make gas accessible and affordable for the common man.”
It has been reported how terminal owners jerked up prices of cooking gas from N9m-N10m per 20 metric tons to N14m.
According to olatunbosun; terminal owners were “hiding under the guise of high foreign exchange to increase price, and further increase the suffering of the masses,
“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, price could reach as high as N18m for a 20 metric tons truck by December. This means that a 12.5kg could go as high as N18,000,” He said