FG Plans Intervention as Cooking Gas Prices Surge to N1,300/kg

The Federal Government is preparing to intervene as the cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged to N1,300 per kilogram. The increase comes after the price had recently dropped to around N1,000 in June and July. Currently, refilling a 12kg cylinder costs between N16,000 and N17,000, up from N12,000 just a few weeks ago.

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, announced plans to address the rising costs during the launch of the Decade of Gas Initiative, which included the distribution of gas cylinders to approximately 300 women in Lagos State.

Ekpo revealed that he will convene a meeting with regulators and gas producers to discuss strategies for reducing the price of cooking gas. “I received information this morning about the rising cost of cooking gas. I will invite regulators and producers for a meeting to explore ways to lower the price and make it more affordable,” Ekpo stated.

He emphasized the importance of energy security in terms of affordability and availability, pledging government efforts to tackle the price hike.

The minister also highlighted that the cylinder distribution is part of a broader government initiative aimed at providing 1 million homes with access to clean cooking by 2030. This initiative, approved by President Bola Tinubu, is intended to transition households from using firewood, kerosene, and charcoal to LPG, which is cleaner and more environmentally friendly.

Ekpo urged the beneficiaries to use the provided cylinders and not to sell them, assuring that efforts are underway to stabilize and reduce gas prices. He urged patience and collaboration with the government for improved outcomes.

Secretary to the Government of the Federation, George Akume, represented by Professor Babatunde Bolaji, encouraged the use of LPG over firewood, citing health hazards and environmental concerns associated with traditional cooking methods. Akume also noted that efforts to end gas flaring would increase the availability of gas, potentially lowering prices.

Mr. Ed Ebong, Coordinator of the Decade of Gas secretariat, announced that the distribution program aims to provide 250,000 cylinders annually until 2030. The Lagos event marked the beginning of the LPG penetration program in the South-West, with plans to move to Akwa-Ibom on Tuesday.