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FG bans cooking gas export to reduce price

The FG made this move following the recent increase in the price of cooking gas.

A cooking gas depot with customers in queue to refill their cylinders. [Punch]

The FG on Thursday, February 22, 2024, directed LPG producers in Nigeria and key stakeholders to stop exporting the commodity out of the country.

The directive followed the recent increase in the price of the product.

Announcing the development, the Minister of State, Petroleum Resources, Ekperikpe Ekpo, while speaking at the “Internal Stakeholders’ Workshop,” in Abuja said all LPG produced in the country now has to be domesticated.

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He said, “We are interacting with critical stakeholders to ensure that there is no exportation of LPG.

“All LPG produced within the country will have to be domesticated. And when this is done, the volume will increase and of course, the price will automatically crash.

“I am in contact with the regulation, NMDPRA, we hold meetings almost on a daily basis, and the producers such as Mobil, Chevron, and Shell. So there is that hope that things will turn around. We don’t need to make noise about it.”

As of Wednesday, February 21, 2024, it costs ₦16,875 to refill a 12.5kg cylinder at Obadore in the Alimosho area of Lagos State.

The price is reported to have climbed to about ₦18,000 per 12.5kg cylinder in other states.

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