{"id":311403,"date":"2024-02-22T19:36:01","date_gmt":"2024-02-22T18:36:01","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=311403"},"modified":"2024-02-22T19:36:01","modified_gmt":"2024-02-22T18:36:01","slug":"nigeria-to-ban-cooking-gas-export-to-crash-price","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/02\/22\/nigeria-to-ban-cooking-gas-export-to-crash-price\/","title":{"rendered":"Nigeria to ban cooking gas export to crash price"},"content":{"rendered":"<ul>\n<li><strong>The federal government said that all LPG produced within the country would be domesticated to crash the price of gas<\/strong><\/li>\n<\/ul>\n<p>The Federal Government says it is interacting with the critical sectors to halt the exportation of Liquefied Petroleum Gas (LPG), also known as cooking gas given its rising cost.<\/p>\n<p>The federal government said that all LPG produced within the country would be domesticated to crash the price of gas.<\/p>\n<p>The Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpo disclosed this at the opening of its Internal Stakeholders\u2019 Workshop, on Thursday in Abuja.<\/p>\n<p>The News Agency of Nigeria (NAN) reports that the workshop which is across the gas value chain on repositioning the nation\u2019s gas sector, has its theme as \u201cHarnessing Nigeria\u2019s Proven Gas Reserves for Economic Growth and Development \u201c.<\/p>\n<p>\u201cAll 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.<\/p>\n<p>\u201cI am in contact with the regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the producers of LPG such as Chevron, Mobile and Shell, we have meetings on a daily basis.<\/p>\n<p>\u201cThere is hope that things will turn around, we do not need to make noise about it and it is based on this that we have this engagement to find out the problems and address them once and for all,\u201d Ekpo said.<\/p>\n<p>On conversion of vehicles to Compressed Natural Gas (CNG), to cushion the effect of fuel subsidy removal, Ekpo said he has been interfacing with the Presidential Initiative on <a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/12\/10\/cng-criticizes-senator-yaradua-for-insensitive-comments-on-kaduna-bomb-attack\/\" target=\"_blank\" rel=\"noopener\">CNG<\/a> towards realising the goal.<\/p>\n<p>He said, \u201cThe moment I get a clearer picture about it, I will address you accordingly,\u2019\u2019 adding that the impact on withdrawal of taxes and levies from gas-related equipment would not reflect that way because the investors are humans and would like to maximise profit, though the policy has been put in place.<\/p>\n<p>\u201cBut at the end of the day the regulators have to come in and interface with them to ensure they crash the price,\u2019\u2019 he said.<\/p>\n<p>According to him, the demonstration by the federal government by withdrawing all taxes and levies from the importation of gas-related equipment is a big incentive.<\/p>\n<p>The workshop also featured a presentation by Mrs Oluremi Komolafe, Director Gas of the ministry on highlights from the minister\u2019s consultation with the operators in the nation\u2019s gas sector in Feb. 6.<\/p>\n<p>Speaking on the recommendations by the operators, she said they called for balancing gas pricing while considering the impact on the average consumer is imperative for sustainable sectoral growth.<\/p>\n<p>Komolafe said the LPG retailers urged the Minister to look into the issue of the soaring price of cooking gas as it had become relatively unaffordable to the common man.<\/p>\n<p>She said the retailers highlighted that the surge in price was capable of jeopardising the clean cooking initiative and made the use of charcoal an attractive and cheaper alternative.<\/p>\n<p>\u201cThey also mentioned the issue of substandard gas cylinders as a great challenge and called on the Ministry to look into the issue and enact a national cylinder and accessories policy to curb it,\u2019\u2019 she said.<\/p>\n<p>NAN checks showed that cooking gas price increased to N1,400 as against N950 per kg in January, 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The federal government said that all LPG produced within the country would be domesticated to crash the price of gas The Federal Government says it is interacting with the critical sectors to halt the exportation of Liquefied Petroleum Gas (LPG), also known as cooking gas given its rising cost. The federal government said that all [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":122627,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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