The Nigerian National Petroleum Corporation, NNPC has announced its readiness to cut the price of Liquefied Petroleum Gas also known as cooking gas.
The move is to aid increase in the supply of LPG domestically which would invariably cause a slide in the product price in Nigeria as well as stop the export of propane and butane which are major components for producing LPG, according to the Group General Manager Public Affairs Division, Ndu Ughamadu.
In his statement quoting the Group’s General Manager, he said “Currently some of our butane and propane entitlements are exported largely due to lack of vessels to make sure that these things come into the domestic markets and the absence of a commercial framework. What we are going to do is to make sure we put the right commercial framework in place so that those exports are converted into domestic consumption”.
Furthermore, the corporation stated concerted efforts with stakeholders to create a conducive environment for production of LPG in Nigeria and cessation of export of the equity butane and propane entitlements due to absence of vessels for transport and other considerations were already in place.