The Nigerian National Petroleum Company Limited (NNPCL) has attributed the recent sharp increase in cooking gas prices across Nigeria to the industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). The strike, which disrupted loading and distribution operations at the Dangote Refinery and other gas plants, caused supply delays of two to three days, resulting in scarcity and artificial price hikes by some dealers.
Prices for liquefied petroleum gas (LPG) have doubled in several areas; for instance, in Lagos, 12.5 kg cylinders have soared from about ₦12,500 to as high as ₦25,000. In Abuja and other key markets, similar spikes ranging from ₦1,700 to ₦2,500 per kilogram have been reported. Dealers cite hoarding and panic buying amid tight supply as contributing factors to the surge.
NNPCL's Group CEO, Mr. Bayo Ojulari, explained that the price increase is largely temporary and linked to disrupted supply chains during the strike period. He assured the public that as the industry stabilizes distribution channels and production ramps up, cooking gas prices are expected to normalize soon.
The Dangote Refinery, the largest local LPG supplier, currently produces around 2,000 tonnes of LPG daily, with plans to boost output further to meet national demand better. Meanwhile, consumers are urged to remain patient while regulators monitor and work to control pricing abuses.
This spike highlights Nigeria's vulnerability to supply shocks in essential energy commodities, underlining the need for sustained investment in infrastructure and labor peace to stabilize critical fuel markets.Here is a unique news headline and article based on the recent cooking gas price increase in Nigeria and the explanation from NNPCL.