The Federal Government (FG) says given the rising cost of Liquefied Petroleum Gas (LPG), it is interacting with the critical sectors to halt its exportation.
According to the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, all cooking gas produced within the country would be domesticated to crash the price of gas.
He disclosed this at the opening of its Internal Stakeholders’ Workshop, on Thursday in Abuja.
The workshop which is across the gas value chain on repositioning the nation’s gas sector, has its theme as “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development”
Ekpo said: “All LPG produced within the country will have to be domesticated and when this is done the volume will increase and of course, the price will automatically crash.
“I am in contact with the regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the producers of LPG such as Chevron, Mobile and Shell, we have meetings on a daily basis.
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“There is hope that things will turn around, we do not need to make noise about it and it is based on this that we have this engagement to find out the problems and address them once and for all.”
Addressing the conversion of vehicles to Compressed Natural Gas (CNG), to cushion the effect of fuel subsidy removal, the Minister said he has been interfacing with the Presidential Initiative on CNG towards realising the goal.
“The moment I get a clearer picture about it, I will address you accordingly.
“But at the end of the day the regulators have to come in and interface with them to ensure they crash the price,’’ he said.
According to him, the demonstration by the federal government by withdrawing all taxes and levies from the importation of gas-related equipment is a big incentive.
