The price of a 12.5kg Liquefied Natural Gas or cooking gas has risen to N12,500, according to a market survey by The PUNCH.
This is an increase from the N10,000 price reported towards the end of last month in Lagos.
Recall that the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, had previously warned that the price of 12.5kg cooking gas could reach as high as N18,000 by December if the Federal Government did not intervene in the activities of terminal owners.
Despite this warning, Oladapo confirmed that the government has yet to address the issue.
Gas retailers still purchase 20 metric tons of N14m at the depot. Oladapo expressed hope for a decrease in prices so that the Federal Government’s decade of gas policy, which aims to make gas accessible and affordable for everyone, can benefit ordinary citizens.
“We still buy a 20 MT truck at N14m at the depots. And the price of diesel has increased that it now costs N1.7m to take gas from Lagos to the North due to the high cost of diesel. If we sell here at N1,000 per 1kg, just imagine how much it would cost in the Middle East and North.
“What we pray for is for prices to come down so that the ordinary masses can benefit from the decade of gas policy of the Federal Government that seeks to make gas accessible and affordable for the common man,” he said
In September, it was reported that terminal owners had increased cooking gas prices from N9m-N10m per 20 metric tons to N14m.
Oladapo criticized terminal owners for using high foreign exchange rates as an excuse to raise prices and increase the burden on the public.
