By Adaobi Rhema Oguejiofor
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGM) has raised an alarm that the price of the 12.5kg cooking gas may increase to N18,000 by December if the Federal Government fails to step in.
The President of NALPGM, Olatunbosun Oladapo, disclosed the information on Sunday. He explained that the gas price has skyrocketed astronomically from N9 or 10 million per 20 metric tons to N14 million.
Oladapo called on the regulatory authority to step in and checkmate the situation, noting that terminal owners are “hiding under the guise of high foreign exchange in order to increase prices, further increasing the suffering of the masses.”
In his own words, “there is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, prices could reach as high as N18million per metric ton by December and this means that a 12.5kg cooking gas, which is currently sold at N10,000 could cost as high as N18,000″.
