Two straight factors that will cause the immediate reduction in the skyrocketing price of
Liquefied Petroleum Gas (LPG), otherwise called cooking gas have emerged.
Firstly, the multimillion tonnage vessel which had been hanging on high sea waiting for space to berth has berthed and is discharging since Tuesday evening at Apapa.
Secondly, the Nigerian National Petroleum Corporation (NNPC) Tuesday unveiled two LPG vessels in Ulsan, South Korea tomorrow.
The West Africa Gas Ltd (WAGL), an NNPC Joint Venture Company and Sahara Energy Ltd had taken delivery of the two vessels -Halls 8182 & 8183 – from renowned Korean ship building company, Hyundai Mipo Dockyard Ltd.
NNPC had hinted on its official twitter account on Monday that “This development promises to be a game changer in the supply network of LPG nationwide”
At a Pre-Naming Ceremony Dinner held inUlsan, S/Korea, the Group Managing Director of the NNPC Dr. Maikanti Baru said he was excited about the development, noting that “I am delighted that this Joint Venture which was established in 2014 had started to record success within a short span”.
“I am particularly delighted that this milestone will be a huge boost to the Liquefied Petroleum Gas (LPG) business in Nigeria,” he added.
Gas dealers on the streets of Lagos had since end of last year, jerked up the prices of all their cylinder sizes, keeping the most popular family size of 12.5kg at a high price of N4,500.
