NNPC Seeking To Reduce Price Of Cooking Gas

By Ikenga Chronicles January 11, 2019

NNPC Seeking To Reduce Price Of Cooking Gas

The Nigerian National Petroleum Corporation (NNPC) has vowed to do all in its powers to reduce the price of Liquefied Petroleum Gas (LPG), also known as cooking gas.

This, the corporation said, it would do by implementing effective commercial framework that would halt the export of propane and butane which are major components in the production of the cooking gas. 

The corporation on Thursday explained in a statement by its spokesman, Mr. Ndu Ughamadu, that the move which is anchored by the Crude Oil Marketing Division (COMD) of the corporation would enable the corporation boost supply of LPG to the domestic market
thereby leading to a natural downward slide in the price of the product across the country.

The NNPC spokesman quoted the Group General Manager, COMD of the Corporation, Mallam Mele Kyari, as saying: “Currently some of our butane and propane entitlements are exported,largely due to lack of vessels. What
we are going to do is to make sure we put the right commercial framework in place so that those exports are converted into domestic consumption.”

Kyari who disclosed this at a strategy session said the division was working in concert with stakeholders to create the enabling environment for in-country production of LPG and cessation of export of the country’s equity butane and propane entitlements.