Nigeria National Petroleum Company increases supply as a cost control measures for cooking gas.

 

On Monday 13th December 2021, Emadeb Energy Services Limited, launched a 120-metric tonnes LPG storage and bottling plant in Abuja.

The Managing Director/Chief Executive Officer, Emadeb Energy Services, Mr. Adebowale Olujini, in his speech called on the Federal Government
to support LPG investors, stating the cost required to invest in the sector.

The Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, was in attendance. Kyari, stated that NNPC, as cost control measures, was currently increasing the supply of Liquefied Petroleum Gas (LPG), widely called cooking gas, in a bid to force down its price.

He made this known to journalists on the sidelines of the event in Abuja.

He  said, regarding the hike in LPG price there  are “Two things are in play.

“One is the supply in the international market of gas. It moves with the price of every other petroleum product including crude oil and its derivatives.

“So definitely, it is a reflection of what is happening in the international market. However, what we are doing is to increase supply and once supply increases, price will come down.”