The President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGM), Olatunbosun Oladapo, has accused terminal operators of forcing the price of Liquified Petroleum Gas, LPG, (Cooking Gas) up.
Oladapo, said if the operators continue to adjust the price then Nigerians would soon see the price of 12.5kg of LPG moving up to N18,000 by December.
He therefore called on the federal government to check the activities of terminal owners, Gas retailers.
Oladapo, said that there has been a sudden increment from between N9 million and N10 million per 20 metric tons to N14 million per 20 metric tons.
He said if the federal government doesn’t intervene, the price of gas could “potentially reach N18 million per metric ton by December.”
He said: “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, the price could reach as high as N18m per metric ton by December. This means that a 12.5kg could go as high as N18,000.
”Terminal owners are hiding under the guise of high foreign exchange to increase the price to further increase the suffering of the masses.
The NALPGM President had in August hinted that Nigerians may pay higher for cooking gas from mid-August 2023.
He attributed the reasons for the expected increase to rising international prices, high tax rates and high prices of vessels, forex scarcity, and Naira devaluation.
