NNPC To Increase Gas Supply To Crash Price

Gas Price Increased By 0.21% In October - NBS

The Nigerian National Petroleum Corporation (NNPC) Limited disclosed that it is working hard to boost the supply of the Liquified Petroleum Gas (LPG) otherwise known as cooking gas in order to crash the soaring price.

Malam Mele Kyari, the Group Managing Director said the price will fall as soon as NNPC increases the supply.

He spoke to reporters after commissioning Emadeb Energy Services Limited’s 120metric ton (MT) LPG Storage and Bottling Plant in Abuja.

Kyari explained that the high price was triggered at the international market.

According to him, the costly gas price is a reflection of rising crude oil, all petroleum products and derivatives at the international market. He added that it is also a supply issue.

“As you are aware it moves with every other petroleum product, including crude oil and its derivatives.

“Definitely, it is a reflection of what is happening in the international market. What we are doing is to increase supply. Once supply increases price will fall.”

Commenting on the commissioned plant, he said it is going to reduce the cost of energy for the fact that LPG is cheaper than any other product you can think of, especially as cooking fuel.

Describing it as one of the steps the Federal Government has taken to provide gas for its citizenry, the NNPC chief said: “So, we know that this is one of the so many steps we have to take to make sure that gas is available to our people.”

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