Cooking Gas: NNPC Lists 9 Reasons for Hike in Price, Proffers Solution

Many Nigerian households find it difficult to cope with the nearly every day increase in the price of cooking gas across the country. This, undoubtedly, aggravates the problem associated with the hike in food prices.

Daily Trust reports that while speaking on the cause of the hike in the price of cooking gas, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, says the challenges in sourcing adequate supply of cooking gas has led to the increase in prices of the commodity.

Legit.ng gathered that Kyari disclosed this during a working visit to the headquarters of the Department of Petroleum Resources (DPR) in Abuja on Tuesday, September 7.

Why cooking gas price keeps going up

Here are some of the reasons for the hike in the price of cooking gas as highlighted by NNPC boss Kyari:

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1. This country is undersupplied with gas.
2. We are having difficulty feeding our network across the country with gas, every day. It is trouble to deliver gas.
3. Once the supply is weak, it will affect pricing. The supply mechanism of our LPG is very weak, that is why we are collaborating extensively to make sure that we are able to extract LPG from our gas resources so that it is made available to the market.
4. Once supply becomes high, definitely, the price will definitely be impacted.
5. The corporation is working with other sister agencies to make sure that more gas is available in the domestic market thus, making it close to homes.
6. NNPC's strategy to expand its network of availability would subsequently lead to gas directly delivered to homes of end users.
7. When we are able to power thermal gas plants across the country and very close to the users, ultimately, homes will be run with electric cookers and utensils.
8. We are transiting and we will continue to add more volume into the market so that we bring down the prices.
9. The excess availability of the commodity would also aid in stabilising power supply and distribution in the country as thermal plants will supply power generating companies’ gas which are affordable and accessible.

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President Buhari refuses to make NNPC his personal ATM card

Meanwhile, Legit.ng had previously reported that Femi Adesina, a media aide of President Muhammadu Buhari, revealed what was responsible for the N287 billion net profit announced by the NNPC.

It was reported that Adesina in an article shared on his Facebook post on Thursday, September 2, explained that the massive economic feat came about because his principal has refused to make the corporation his personal Automated Teller Machine.

He added that the president who is also the minister for petroleum resources is the first leader in the history of Nigeria and the NNPC who has refused to make the agency his means of accumulating riches.

Source: Legit.ng