FG Holds Emergency Meeting on Rising Cooking Gas Prices

The Federal Government of Nigeria convened an emergency meeting to address the recent increase in liquefied petroleum gas (LPG) prices, which has placed additional pressure on household budgets and raised the cost of essential goods. The meeting, led by Patience Oyekunle, Permanent Secretary of the Ministry of Petroleum Resources, included government officials, industry regulators, and market operators.

They examined the factors driving the rise in LPG prices and agreed on the necessity for interventions across the value chain. Ekperikpe Ekpo, Minister of State for Petroleum Resources, highlighted the critical role of LPG as an energy source for households and the importance of addressing the situation proactively.

Bola Tinubu, the President of Nigeria, expressed concern over the impact of rising LPG prices on citizens. Rabiu Umar, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), noted that high land costs continue to influence LPG prices but expressed optimism that ongoing measures would ease market pressures in the coming weeks.