Business News

LPG marketers beg FG to address rising gas price

Liquefied Petroleum Gas marketers have appealed to the Federal Government to tackle the surging increase in gas prices, citing its destabilizing effect on their business survival.

The marketers under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM)

They said if nothing was done to the increasing prices, gas might soon be a commodity for the few rich in society.

Mr. Abideen Olatunbosun, the National President of NALPGAM, issued this appeal during the 36th Annual General Meeting (AGM)/Conference of the association in Ibadan.

Olatunbosun said:

In his presentation, Prof. Sunday Isehunwa, the keynote speaker, enumerated a range of obstacles facing the LPG market in Nigeria, including shifts in demand and supply, variations in natural gas production and consumption, fluctuations in prices, and challenges related to electricity pricing.

He noted that LPG generators are becoming increasingly popular in Nigeria, hence the need for training and retraining of technical manpower required to do necessary upgrades and replacements.

He said despite the wide variety of uses of LPG, and the potential for massive market growth, several bottlenecks are hindering large-scale increase in domestic LPG growth in Nigeria.

The Don listed some specific issues including an under-regulated retail market, shortage of LPG facilities, and disorganized LPG cylinder value chain as requiring urgent attention of the government.

He said