Cooking gas price hike, repercussion from PENGASSAN’s strike – NNPC
Nigerians queueing for cooking gas
Cooking gas price hike, repercussion from PENGASSAN’s strike – NNPC
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, has said the surge in the price of liquefied petroleum gas (LPG), commonly called cooking gas, is due to the recent strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
Ojulari, who spoke with journalists on Sunday after paying President Bola Tinubu a visit, disclosed that some retailers and marketers with existing stock also raised their prices, leading to the overall increase.
He was quick to add that things would soon return to normal.
“So the increase you saw was relatively artificial because for the period of the strike, what that meant was movements and loading were delayed by about two, three days.
“And because of that, you see that impact as things return back to normal. It takes some time for distribution to be fully restored.
“And of course, as you know, in Nigeria, people take the opportunity. With that delay, some of the people who have existing resources and reserves had to put up the price.
“My expectation is that now that things are back to normal, prices should return back to what they were before the strike,” Ojulari stated.
