12.5kg cooking gas hits N12,500 – moneyamebo

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There are indications that the Price of 12.5kg of Liquefied Natural Gas or cooking gas has increased to N12,500. This will further add woes to the current cost of living crisis in Nigeria.

Surveys carried out in Lagos showed that the price of a 12.5kg of the Liquified Natural Gas (LNG) is N10,000 – N12,500.

The PUNCH had reported how the President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, warned that the price of 12.5kg cooking gas could hit as high as N18,000 by December if the Federal Government did not checkmate the activities of the terminal owners.

Olatubosun in his words said “Yes, the price is now N1,000 per kilogram but the government is yet to step in despite a meeting we had with the NMDPRA,” he said.

According to him, gas retailers still buy 20 metric tons of gas for N14m at the depot.

“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.”

The hike in the price of gas has been explained to be due to the continous slump in the value of the Naira and logistics challenges.

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