The Federal Government on Thursday, January 6, 2022 said it was putting measures in place to ensure further reduction in the cost of Liquefied Petroleum Gas, popularly called cooking gas.
The government disclosed this while reacting to the recent marginal drop in the cost of cooking gas.
The price of 12.5kg LPG has reportedly dropped from N8,800 to between N8400 and N8200. In some outlets, the price of the commodity dropped to between N7,800 and N8,000 as of Thursday, January 6, 2022.
In November, 2021 Nigerians reported that the cost of LPG kept rising, jumping by more than 240 per cent between January and October 2021.
12.5kg, continued moving up from N3,000 to N10,200 within the first 10 months of 2021.
“It is in government’s interest for the price to go down consistently and there are certain initiatives that are being taken at the moment, which hopefully will see to further drops in price regardless of the international cost,” the Programme Manager, National LPG Expansion Implementation Plan, Office of the Vice President, Dayo Adeshina, stated.
Adeshina also said, About 65 per cent of the LPG is imported into Nigeria, while domestic production accounts for 35 per cent, hence the cost of the commodity in the global market affects the price locally.
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