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FG plans to review domestic gas prices

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The prices of gas consumed across the country would be reviewed by the Federal Government soon.

This is a strategy to help deepen the use of Liquefied Petroleum Gas, popularly called cooking gas, as well as Compressed Natural Gas, the Minister of State for Petroleum Resources, Timipre Sylva, disclosed.

The Federal Government targets to move motorists from the use of petrol to the use of CNG in their respective vehicles.

According to a statement from his ministry on Tuesday, Sylva said the government would continue to push for the use of gas for cooking and in automobiles.

He disclosed the plan of government to review the country’s domestic gas pricing framework at the inauguration of a committee that would focus on gas sector review in Nigeria, and that the committee would evaluate and review gas prices nationwide in order to align with the current economic realities.

He said there was a need to have an appropriate pricing system, as this would be to the advantage of ordinary Nigerians and industries, and would boost the country’s gas sector.

Sylva recently told journalists in Abuja that gas penetration in Nigeria was low because the initial capital outlay to be spent by any prospective gas user was high.

This, according to him, was why the government decided to come up with the initiative of creating micro gas distribution centres, where cylinders could be rented by users.

Source Punch
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