Nigerian National Petroleum Company (NNPC) Limited has alleged that the recent hike in cooking gas prices was caused by the strike action by Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
Gatekeepers News reports that Bayo Ojulari, the Group Chief Executive Officer (GCEO) of NNPC, made the allegation on Sunday after paying a courtesy visit to President Bola Ahmed Tinubu at the State House.
Over the past week, the price of liquefied petroleum gas (LPG), commonly called cooking gas, has surged across major cities.
In Lagos, 12.5kg now sells for between N26,000 and N27,000 — about N2,000 per kilogram — while in Abuja, the same quantity goes for around N20,000. This marks an increase of nearly 50 percent from the previous price of N17,500.
Ojulari said that the temporary halt in gas movement and loading during the strike disrupted supply, causing a short-term spike in prices.
He said, “The increase was largely artificial. During the strike, distribution was delayed for two to three days. As operations resume fully, prices should gradually return to normal levels.”
The NNPC head added that some marketers with existing stock also raised their prices during the disruption, further driving the increase.
Ojulari assured Nigerians that supply and pricing would soon stabilise as normal distribution resumes nationwide.
