Business
Address rising gas prices now, marketers tell FG
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), has called on the Federal Government to find ways to ensure stability of gas prices and make it available to the common Nigerians.
NALPGAM National President, Abideen Olatunbosun, who made this call during the 36th annual general meeting/conference of the association, with the theme, ‘Expanding gas utilisation beyond imagination’, in Ibadan, Oyo State, on Tuesday, explained that if nothing was done to the increase in price, gas would soon be a commodity for the few rich.
Olatunbosun said, “It is very vital for me to say that the galloping hike in the price of gas in recent times stands as a big challenge to LPG marketers. The government need to find ways to ensure the stability of gas price as well as make gas available to the common Nigerians. If nothing is done to the increase in price, gas will soon be a commodity for the few rich in our society.”
“As a country, we need to improve on our gas utilisation level. If we adopt gas, it will save our forest, improve quality of our lifestyle and the economy will grow. The hike in price of gas is a concern to all.”
In his lecture, the Guest Speaker, Prof Sunday Isehunwa of the Department of Petroluem Engineering, Faculty of Technology, University of Ibadan, identified changes in demand, changes in supply, natural gas production and consumption, changes in price and electricity pricing as some challenges facing LPG market in the country.
Gas retailers had last week warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.
The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, had reportedly said that the price of Liquefied Petroleum Gas also known as cooking gas has “gone astronomically high at terminals as a result of a sudden increment from between N9-N10m per 20 metric tons to N14m per 20 metric tons.
“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, price could reach as high as N18m per metric tons by December. This means that a 12.5kg could go as high as N18,000.”
is not the fault of retailers. It is the fault of NLNG and terminal owners. Even NNPCL is hiding under the guise that they are now privatised to increase prices. As of last week, 1kg was N800 at the terminal, now it is N1,200, and could reach N1,500 by December if care is not taken.”