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FG to slash cooking gas prices over new report on affordability
Strong indication emerged Tuesday that federal government may review downward the prohibitive prices of cooking gas in the country.
This is following the submission of a report to that effect by the Ministry of Petroleum Resources in Abuja. Despite the government’s much-touted focus on gas as a cleaner source of energy, especially to discourage the use firewood by Nigerians, there have been complaints about the high prices of the product which currently range between N5,000 and N5,500 for a 12-kilogramme container of Liquefied Petroleum Gas (LPG).
In June last year, the government set up a committee to recommend an appropriate pricing framework for the strategic sectors of Nigeria’s domestic market, including for retail and industrial uses. While receiving the report at the headquarters of the Nigerian National Petroleum Corporation (NNPC), Minister of State for Petroleum Resources, Mr. Timipre Sylva, said that the purpose of the entire report was to reduce the price of gas in order to liberalise the sector for more stakeholders to get involved.
Speaking earlier, the Permanent Secretary at the ministry, Mr. Bitrus Nabasu, expressed optimism that with the report now ready, and with the expected implementation, it will enhance Nigeria’s economic development and sustainability.