Nigeria Plans LPG Imports Amid 140% Price Surge

Following a significant 140% surge in cooking gas prices in Nigeria, marketers are preparing for massive imports of liquefied petroleum gas (LPG). Prices have escalated from an average of ₦1,000 per kilogram in January to ₦2,400 recently.

Industry sources indicate that local LPG production is unable to meet domestic demand, exacerbated by a decline in supply from Dangote Petroleum Refinery due to its focus on international utilization. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is collaborating with the Nigerian National Petroleum Company to enhance LPG availability in the local market.

Loui Ibah, spokesman for the Minister of State for Petroleum Resources, Dr. Ekperikp Ekpo, confirmed that the government is committed to importing larger volumes of LPG to meet domestic consumption needs.

Depot owners have also confirmed plans to import sufficient LPG to alleviate the current scarcity. The government has enforced a ban on LPG exports to prioritize local supply amidst rising prices and shortages.