By Peace Erewunmi

The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has begun to decline following decisive intervention by the Federal Government aimed at addressing supply disruptions, hoarding, and market manipulation within the sector. The development comes after an emergency meeting convened by the government with key stakeholders in the gas value chain.

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, led discussions with industry operators, regulators, marketers, terminal owners, and security agencies to find immediate solutions to the recent surge in cooking gas prices. During the meeting, the government directed stakeholders to eliminate artificial bottlenecks and ensure adequate supply across the country.

As part of the measures introduced, the Federal Government ordered a crackdown on LPG hoarding, diversion, and speculative storage practices believed to be contributing to price instability. Regulatory authorities were instructed to work closely with security agencies, including the DSS, EFCC, and the Nigerian Police Force, to identify and sanction operators found engaging in practices that distort the market.

Government officials disclosed that available data indicates that domestic LPG supply is expected to exceed national demand, creating conditions for improved market stability. Authorities are also exploring collaborations with major producers and facility operators to enhance local supply and reduce logistics costs that contribute to higher retail prices.

The minister emphasized that stakeholders must move beyond discussions and deliver tangible results that Nigerians can feel through improved availability of cooking gas, faster distribution to retail outlets, and sustained relief from rising prices. He stressed that affordable LPG remains essential to the government’s clean energy and household welfare objectives.

Industry observers note that the recent decline in LPG prices has been welcomed by households and small businesses that rely heavily on cooking gas. Many consumers had expressed concern over rising energy costs in recent months, making the latest reduction a source of relief.

Stakeholders have also called for continued monitoring of the market to prevent a return to exploitative practices. Analysts believe that sustained enforcement, improved domestic production, and efficient distribution networks will be critical in maintaining stable prices over the long term.

The Federal Government has reaffirmed its commitment to ensuring adequate and affordable LPG supply nationwide, assuring Nigerians that further measures will be implemented where necessary to protect consumers and strengthen the domestic gas market.