Business News

LPG Price Drops By 30 Percent

The price of Liquefied Petroleum Gas, LPG, otherwise called cooking gas, has dropped by 30 percent, from N400 per kilogram.
According to a market survey carried out, the product now sells at N280/kg, while other small retailers sell at N300 per kg.
In Abuja and its environs, the price of refilling a 12.5kg of LPG went as high as N6,000 in the first quarter of the year.
Also, gas users spoken to, reported a drop in the price in Lagos, Kano, Kogi, and Kaduna, from what was obtained in the past.
“There is more product coming in, that is the reason”, said President of the Nigerian Liquefied Petroleum Gas Association, NLGPA, Dayo Adeshina.
“By September or October, the BOP jetty should be on stream, so we shouldn’t be having any discharge problems, and immediately after that, there will also be another jetty, PWA, in Lagos. Once these jetties come on stream, we should see increased supply”,  Adeshina said.
Managing Director of Lyushi Oil & Gas Ltd, Ibrahim Salka Bawa, also said: “There is the availability of supply.”
The supply logjam that impeded the stable availability of LPG was overcome recently, following the unveiling of two LPG vessels in Ulsan, South Korea, by West Africa Gas Limited, a NNPC joint venture company, and Sahara Energy Limited.
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