The price of 12.5 kg of Liquefied Natural Gas, also known as cooking gas, has climbed to N12,500 as Nigeria marks its 63rd year of independence.
The Punch reported that according to a market investigation conducted by one of its correspondents, petrol merchants in Lagos abruptly increased the price of 12.5kg of petrol from the N10,000 reported at the month’s end to almost N12,000.
Previously, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, had issued a warning that, if the Federal Government did not restrain the activities of the terminal owners, the price of 12.5kg of cooking gas may rise to N18,000 by December.
He also stated on Monday that the government has not intervened in the matter despite the warning.
He said, “Yes, the price has increased to N1,000 per kilogram, but despite a meeting we held with the NMDPRA, the government has not yet intervened.”
He claimed that petrol dealers still pay N14 million at the depot to purchase 20 metric tonnes of petrol.
“We continue to purchase a 20 MT truck at the depots for N14m. And because diesel is so expensive, it now costs N1.7 million to transport fuel from Lagos to the North. Just think about how much it would cost in the Middle East and the North if we sold it here for N1,000 per 1kg.
“The Federal Government’s decade-long petrol program, which aims to make petrol accessible and inexpensive for the average person, will benefit from lower costs, which is what we wish for.
“Gas prices are absurdly rising right now, and if the Federal Government does not intervene to restrain the actions of these terminal owners, the cost of a 20 metric tonne truck could exceed N18 million by December. Therefore, a 12.5kg might cost as much as N18,000,” he said.
The terminal owners, in his opinion, were “hiding under the guise of high foreign exchange to increase price, and further increase the suffering of the masses.”
Despite the absence of a clearly obvious association, NavGas spokesperson, Friday Agwu and Nipco Plc spokesperson Askay Kumar did not react to questions from the media.
