The Nigerian Upstream Regulatory Commission (NURC) has given reasons why the price of cooking gas has crashed in the country.
Cooking gas which was sold for up to N800/kg in some parts a few months ago now sells for about N600/kg.
Speaking on the latest development, the Port Harcourt Zonal Director of NURC, Professor Godday Ineh said the latest “strategy” by the Nigeria Liquefied Natural Gas NLNG to increase by 100% the supply of gas to the local market helped to crash the price.
Professor Ineh explained that the move is designed to increase LPG availability in Nigeria, diversify its use and support the federal government’s Decade of Gas initiative
Ineh, who is also the zonal controller of the Nigerian Upstream Regulatory Commission said “Nigeria is becoming self-sufficient in the LPG supply chain”.
He said, “it Is the strategy of NLNG to target the domestic market by supplying LPG, because if there’s availability, the prices will now become affordable”.