12.5kg cooking gas price may hit N18,000 December

The price of a 12.5kg cooking gas cylinder in Nigeria may hit N18,000 by December if the Federal Government does not intervene and regulate the activities of terminal owners. This warning was issued by the President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Olatunbosun Oladapo, in an interview with The PUNCH on Sunday. Oladapo said that the price of cooking gas has increased astronomically at terminals, from N9-N10 million per 20 metric tons to N14 million per 20 metric tons. He said that if the government does not intervene, the price of a 12.5kg cooking gas cylinder could reach as high as N18,000 by December. Oladapo accused terminal owners of hiding under the guise of high foreign exchange to increase prices. He said that there was no justification for the increment, as the Nigerian Liquefied Natural Gas Limited (NLNG) still supplied the market. Oladapo called on the Federal Government to regulate the activities of terminal owners and to ensure that cooking gas is sold at an affordable price to Nigerians. The high price of cooking gas has been a major problem for Nigerians in recent months. Many Nigerians have been forced to switch to other forms of cooking fuel, such as kerosene and firewood. The high price of cooking gas has also had a negative impact on the food industry, as many restaurants and food vendors have been forced to increase their prices. The Federal Government has not yet responded to the warning from NALPGAM. However, the government has previously said that it is committed to ensuring that cooking gas is available and affordable to Nigerians. It remains to be seen what steps the government will take to address the rising price of cooking gas.