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FG Moves to Address Rising Cooking Gas Price



By Adedapo Adesanya

The federal government says it is aware of the rising cooking gas price in Nigeria and will take an urgent step to address the situation, especially ahead of the forthcoming festive season.

The price of cooking gas in Nigeria has hit the roof, forcing several households to adopt firewood and sources of fuel harmful to the environment, especially at a time the world is preaching cleaner energy to address the drastic climate change.

Worried by the concerns of Nigerians, the Minister of State for Petroleum, Mr Timipre Sylva, while addressing State House correspondents after a meeting with President Muhammadu Buhari in his office, said the matter would be looked into.

The Minister was at the Presidential Villa to present the heads of two new agencies: the Nigerian Upstream Regulatory Commission (NURC) and the Nigerian Downstream and Midstream Petroleum Regulatory Authority (NMDPRA) to his boss.

Mr Slyva informed newsmen that the issue was a source of worry to the President and that they have started looking at how this can be alleviated.

However, he explained that the government has no control of the prices and rather, it is the international market that primarily determines the price of the commodity.

But Mr Sylva assured Nigerians that some elements of the pricing will be adjusted internally to enable a reduction, particularly in view of the Yuletide season.

Nigerians have recently lamented the price of gas which have skyrocketed in recent times, hitting nearly N10.000 for 12.5kg, which used to be about N3,200.

The Nigerian government had advised Nigerians to embrace cooking gas instead of kerosene and various steps were taken to promote its usage in the country.

To further deepen its usage, the liquified natural gas (LNG) was exempted from value-added tax (VAT) only for it to be introduced this year, which some marketers have blamed for the hike. Nigeria is a country blessed with abundant gas.

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