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Home Economy

Minister of State for Petroleum to Address Soaring Cooking Gas Prices Amid Federal Government’s LPG Distribution Initiative

Business 360 by Business 360
August 27, 2024
in Economy, Energy
0
Minister of State for Petroleum to Address Soaring Cooking Gas Prices Amid Federal Government’s LPG Distribution Initiative

The Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, has vowed to tackle the escalating prices of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, by engaging key stakeholders, including regulatory agencies and producers. This commitment comes at a time when the federal government, through the Decade of Gas Secretariat and its partners, is actively working to promote clean energy solutions across Nigeria.

The announcement was made during the launch of the LPG Grassroots Penetration and Cylinder Distribution Programme for the South-West Zone, held in Lagos. As part of this initiative, 250 fully-filled LPG cylinders were distributed to underserved households in Lagos State. This distribution is in line with the government’s broader goal of converting 250,000 homes across all 774 Local Government Areas (LGAs) in Nigeria to clean cooking gas by the year 2030.

Addressing the LPG Price Surge

Hon. Ekpo acknowledged the significant increase in the price of LPG, which has seen a 12.5-kg cylinder rise to as much as N16,200, up from around N13,500 just a month ago. Recognizing the burden this places on Nigerian households, he assured the public that he would convene a meeting with stakeholders to find a resolution to the price surge.

The Minister’s commitment to addressing the price hike, coupled with the ongoing grassroots distribution of LPG cylinders, reflects the federal government’s dedication to ensuring that all Nigerians have access to affordable and clean cooking energy. The initiative not only aims to mitigate the financial impact of rising LPG prices but also aligns with Nigeria’s long-term environmental and health goals by encouraging the widespread adoption of cleaner energy sources.

As the federal government continues its efforts to promote clean energy through initiatives like the LPG Grassroots Penetration and Cylinder Distribution Programme, the planned intervention by Hon. Ekpo could provide much-needed relief to Nigerian households grappling with soaring LPG prices. By addressing these challenges head-on, the government is reinforcing its commitment to making clean cooking gas accessible and affordable for all.

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