Tuesday, June 23, 2026 - The Federal Government has convened an emergency stakeholders’ meeting to address the recent increase in Liquefied Petroleum Gas, LPG, prices and develop measures to improve supply, affordability and market stability.
The meeting brought together government officials,
regulators, producers, marketers, terminal operators and industry associations
to examine factors driving rising LPG prices and agree on interventions across
the value chain.
Permanent Secretary of the Ministry of Petroleum Resources,
Patience Oyekunle, described LPG as a critical energy source for households and
an important component of Nigeria’s energy transition agenda.Nigeria Investment
Guide
According to her, the increase in cooking gas prices was
placing additional pressure on household budgets and raising the cost of
essential goods.
Meanwhile, the Minister of State for Petroleum Resources
(Gas), Ekperikpe Ekpo, said President Bola Tinubu is concerned about the impact
of rising LPG prices on Nigerians.
Ekpo said the president had directed relevant agencies to
take proactive measures to address the situation.
The minister further said that increasing supply must be
supported by efficient logistics, improved infrastructure and transparent
pricing mechanisms to ensure consumers benefit from sector-wide interventions.
On his part, Chief Executive of the Nigerian Midstream and
Downstream Petroleum Regulatory Authority, NMDPRA, Rabiu Umar, said high
landing costs continue to influence LPG prices.
Umar, however, expressed optimism that ongoing measures
across the value chain would begin to ease market pressures in the coming
weeks.
He said the authority is working with producers and other
stakeholders to increase domestic supply, strengthen market oversight and
improve product availability.
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