The government said this is part of its effort to tackle the rise in the price of cooking gas in the country.
The Nigerian government on Thursday said it is interacting with critical sectors to ensure there was no exportation of Liquified Petroleum Gas (LPG), also known as cooking gas.
The government said this is part of its effort to tackle the rise in the price of cooking gas in the country.
Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), disclosed this at an internal stakeholders' workshop in Abuja on Thursday, according to a statement signed by Oluwakemi Ogunmakinwa, deputy director of press and public relations of the ministry.
According to the statement, the minister noted that the workshop is aimed at repositioning the Nigerian gas sector for optimal performance, in line with President Bola Tinubu's Renewed Hope Agenda to unlock the country's abundant gas resources for economic development and poverty eradication.
He said as an incentive, the government had withdrawn all taxes and levies from the importation of gas-related equipment.
He added that there were interactions with critical sectors to ensure there was no exportation of liquified petroleum gas, noting that all LPG products produced within the country would have to be domesticated, and when this is done, the volume would increase and the price would automatically crash.
"All 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. I 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.
"There 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," Mr Ekpo said.
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With regards to converting vehicles to CNG-powered, the minister recalled that a presidential initiative was set up before the inauguration of the ministers.
"I am interfacing with them, and the committee is working to ensure that. We are meeting with the regulators on a daily basis to ensure we crash the price," he added.
Over the years, the cost of cooking gas has been on the rise in the country.
The Nigerian government had earlier in the month said it would implement measures to significantly reduce the price of cooking gas in the country.
In its report titled Liquefied Petroleum Gas (cooking gas) price watch for December 2023 released last month, the National Bureau of Statistics said the average retail price for refilling a 5kg cylinder of cooking gas increased by 2.79 per cent from N4,828.18 in November to N4,962.87 in December 2023.
On a year-on-year basis, it said this increased by 8.70 per cent from N4,565.56 in December 2022.
