The truckload of Liquefied Petroleum Gas (LPG) has increased to N10 million, from N9.5 million last week, due to foreign exchange and others issues.
In a market survey conducted in Lagos and its environs, it was observed that many marketers were in need of dollars to import the product as a result of high demand.
The Executive Secretary, Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM, Bassey Essien, who confirmed the development in an interview with newsmen, “It is true that the price has increased. It has much to do with foreign exchange and other issues in the market.”
Recently, the Board of Directors, Nigeria LNG Limited (NLNG), yesterday, had disclosed plans to dedicate 100 per cent of the company’s Liquefied Petroleum Gas, LPG production (Propane & Butane) for domestic consumption in Nigeria.
Managing Director and Chief Executive Officer of NLNG, Philip Mshelbila, had said the announcement marked the Company’s strong commitment to the continued growth of the domestic LPG market and its passion to increase utilisation of one of the most versatile energy sources in the world.
“NLNG was inclined towards helping to build a strong economy based on the gas resources that Nigeria is abundantly blessed with, and that natural gas could help drive the economy by providing cooking gas for homes, supporting industrialisation, powering mobile cell sites and complex transportation systems, impacting food supply through its usage for fertilizer production and increasing power supply to both homes and industries while reducing the country’s carbon footprint.”
According to him, “Gas, as the cleanest of the fossil fuels, has become an essential energy source to be reckoned with during this energy transition period. Other countries are revolutionising their energy industry to cut down on carbon emissions drastically.
“Nigeria should not be left out in this drive, considering its abundant gas resources. Gas is essential for life and living at the moment, because it can support everything we will need to develop our economy and create better living standards for Nigerians. We need to change the narrative, and NLNG is being pragmatic about it.
“We are ardently following up on the commitment we made in March 2021 at the NLNG-sponsored pre-summit conference of the Nigeria International Petroleum Summit (NIPS) 2021 organised by the Federal Ministry of Petroleum Resources to support the Decade of Gas declaration by the Federal Government.
“We are driven by our vision to remain a globally competitive LNG company helping to build a better Nigeria and are making a reality of our collective dreams that one day we can switch all cooking fuels to gas, and power our vehicles with gas as encapsulated in the government’s National Gas Expansion Program and the Autogas Policy.”
