Gas retailers have warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.

The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, told The PUNCH on Sunday, that the price of Liquefied Petroleum Gas also known as cooking gas has “gone astronomically high at terminals as a result of a sudden increment from between N9-N10m per 20 metric tons to N14m per 20 metric tons.

“There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, price could reach as high as N18m per metric tons by December. This means that a 12.5kg could go as high as N18,000.”

According to him, terminal owners were “hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masses.”

Olatunbosun said there was no justification for the increment, as the Nigerian Liquefied Natural Gas Limited still supplied the market.

He said, “NNPCL currently takes 59 per cent of the gas produced by NLNG, although NLNG has also increased its price from N6m to N8m. Now, because NLNG has increased price, NNPCL and terminal owners have increased price to N14m.

“The increase in price that would take effect is not the fault of retailers. It is the fault of NLNG and terminal owners. Even NNPCL is hiding under the guise that they are now privatised to increase prices. As of last week, 1kg was N800 at the terminal, now it is N1,200, and could reach N1,500 by December if care is not taken.”

He added, “Now, the ordinary man would not be able to buy gas. How many minimum wage earners can afford gas now? Everyone is turning to firewood and charcoal. The surprising thing was that they visited President Tinubu last week, and promised to work together with his administration to make life better. Now they have come back and started doing something else. Where are all the palliatives and busses they promised to donate? We have not seen anything.”

The PUNCH had reported an intended hike in cooking gas prices in August. Prices had since shot up, with 12.5kg cylinder of cooking gas going as high as high as N10,000.

Although gas terminal owners did not have a visible association, spokespersons for NavGas, Friday Agwu, and Nipco Plc’s Askay Kumar, blamed the hike on forex and the international market.

“No one is selling at N1,200/kg. I have not heard such high price yet,” Kumar told The PUNCH via a telephone conversation on Sunday. He however declined to respond when asked how much the landing cost was.

Friday blamed the price on forex and raise in price of crude oil at the international market.

“Flat price increase and forex challenges, and LPG responding to crude price increase at the international market,” he said via a whatssap message to The PUNCH.

Source: https://punchng.com/12.5kg-cooking-gas-price-may-hit-N18000-December

When people were converting their generator I told them that Nigerian leaders know where they are running to and would soon catch up with them.

The naira has been around 800 to 900 when Gas was still 600 to 700 per kg.
The excuse that forex is the main cause shouldn't be an excuse for such astronomical hike in price.
Only one thing could be the cause.
"Saboteurs"
The govt is backed by constitutional authority to fight off saboteurs, if the fail to do so, I'm sorry.
We might have to do it ourselves.
With the way things are going, even if we manage to buy at 18k for 12kg, they'll still increase the price and blame it on something.

I knew the devourers would come after gas

Someone running for the whole post of presidency was consistently dodging cameras and interviews to explain his plans. Only shouting it's my turn.

Some morons voted him and started yabbing opata

As expected from Vagabonds In Power according to Fela.




Wittyness

That’s what you get when you elect someone who thinks he is intelligent not knowing that arrogance does not equate intelligence

This is just the beginning, his ignorance will manifest Big very soon

Those tribalist come and see your so called master strategist my foot

..

ican2020:
That’s what you get when you elect someone who thinks he is intelligent not knowing that arrogance does not equate intelligence

This is just the beginning, his ignorance will manifest Big very soon. Those tribalist come and see your so called master strategist my foot

The shege promax is here already. But you know what, check out those who are wailing. Food insecurity and inflation everywhere but the it will favour me and my family people are still grandstanding in fallacy. Even the well known starkest mummified zombies here are missing in action these days. Perhaps no data to hail on.

Na we dey do ourselves then we turn around and blame the government. What is the rationale behind the increase from 10m to 20m? Greed is a vicious circle that consumes everyone, including the greedy, too.

Another price hike on gas ⛽️.

God Abeg ooo💔💔💔

Where exactly are we going as a nation ? This is seriously alarming . I knew the moment people started converting their generators into gas powered, some unfortunate people ( private and government ) will look for way to hike the prices and make fortunes.

I said it that remove the innocent subsidy and the corruption will move to the next thing and corrupt it too . Corruption is the main problem of nigeria !

They should “let the poor breathe…”

This is what happens if you don’t have a plan. Removing subsidy wasn’t the problem. It’s what plan they had to cushion the effects of the removal. Their only plan was to share 1 bag of rice per village to cushion the effects of subsidy removal. Mtcheww

Agbado is ready, this is just the beginning, there is no honor amongst thieves, you can’t be corrupt and ask your subordinates not be corrupt, with the abundance of crude oil and natural gas still Nigerians buy it higher than countries that dnt even have a drop of crude, no tanx to leadership failure

Getting tougher.

SpecialAdviser:
Someone running for the whole post of presidency was consistently dodging cameras to explain his plans. Only shouting it's my turn.

Some morons voted him and started yabbing opata

We voted for him because there was no better alternatives

You people are mad!

You had the options of voting a reasonable leader to the apex seat but clung to the apparel of tribalism and religion to vote for a man who dutifully ran from cameras and microphones in the build-up to elections, and now you're here frothing in the mouth about cost of living.

Even a Rabiu Musa Kwankwaso would have been a better option compared to the idiot currently at Aso rock. Make una shut up enjoy una Abiola reincarnate in peace!

Paramount01:



We voted for him because there was no better alternatives

See stupid talk abeg!

There's simply no hope

Paramount01:



We voted for him because there was no better alternatives

Enjoy then. Mu.gu

Enjoy the renewed hope

WAS N7000 WHEN HE REMOVED FUEL SUBSIDY 3 MONTHS AGO. NOW N18000 IS HYPERINFLATION. PLEASE CONTROL IT.

Crude oil price hits $94/barrel. If we produce 2m barrels/day, that would amount to about N180 billion/day of revenue & N5.4 trillion/month. We are currently losing about N60 billion/day & N1.8 trillion/month. This is where Wike's madness is needed & not in Abuja.

adenigga:




Gas retailers have warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.

The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, told The PUNCH on Sunday, that the price of Liquefied Petroleum Gas also known as cooking gas has “gone astronomically high at terminals as a result of a sudden increment from between N9-N10m per 20 metric tons to N14m per 20 metric tons.

“There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, price could reach as high as N18m per metric tons by December. This means that a 12.5kg could go as high as N18,000.”

According to him, terminal owners were “hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masses.”

Olatunbosun said there was no justification for the increment, as the Nigerian Liquefied Natural Gas Limited still supplied the market.

He said, “NNPCL currently takes 59 per cent of the gas produced by NLNG, although NLNG has also increased its price from N6m to N8m. Now, because NLNG has increased price, NNPCL and terminal owners have increased price to N14m.

“The increase in price that would take effect is not the fault of retailers. It is the fault of NLNG and terminal owners. Even NNPCL is hiding under the guise that they are now privatised to increase prices. As of last week, 1kg was N800 at the terminal, now it is N1,200, and could reach N1,500 by December if care is not taken.”

He added, “Now, the ordinary man would not be able to buy gas. How many minimum wage earners can afford gas now? Everyone is turning to firewood and charcoal. The surprising thing was that they visited President Tinubu last week, and promised to work together with his administration to make life better. Now they have come back and started doing something else. Where are all the palliatives and busses they promised to donate? We have not seen anything.”

The PUNCH had reported an intended hike in cooking gas prices in August. Prices had since shot up, with 12.5kg cylinder of cooking gas going as high as high as N10,000.

Although gas terminal owners did not have a visible association, spokespersons for NavGas, Friday Agwu, and Nipco Plc’s Askay Kumar, blamed the hike on forex and the international market.

“No one is selling at N1,200/kg. I have not heard such high price yet,” Kumar told The PUNCH via a telephone conversation on Sunday. He however declined to respond when asked how much the landing cost was.

Friday blamed the price on forex and raise in price of crude oil at the international market.

“Flat price increase and forex challenges, and LPG responding to crude price increase at the international market,” he said via a whatssap message to The PUNCH.

Source: https://punchng.com/12.5kg-cooking-gas-price-may-hit-N18000-December

By the time tinubu election grabber,is done with this country even his oloriburuku mashafani supporters will be jumping on a queue to get the Sudanese passport. 😎

OkpaNsukkaisBae:
And how much is minimum wage?

Association
Of
Past
Criminals

has ruined our economy. Renewed shege banza

The fukinhg bastads will blame NLC and Igbo even though minimum wage is yet to increase while prices of commodities keep soaring.
Na igbo dem always make their preek rise.

Paramount01:



We voted for him because there was no better alternatives

Shen gboroo lenu dodoyoo👹

Jbleenk:
Na we dey do ourselves then we turn around and blame the government. What is the rationale behind the increase from 10m to 20m? Greed is a vicious circle that consumes everyone, including the greedy, too.

Govt is meant to put everyone position. Their is suppose to be a govt agency responsible to check and regulate the price and distribution of these products. Where are they? All of them are collecting bribes and looking the other way. When caught the police will collect their own share and look the other way.
So everything boils down to ineffective govt from head to toe.

TongueTwista:


See stupid talk abeg!

No better alternatives ,so is the best out of all the candidates