• About Us
  • Advertise
  • Privacy & Policy
  • Contact Us
  • Terms and Conditions
Wednesday, April 22, 2026
Verily News
No Result
View All Result
  • News
    • Breaking News
    • Global News
  • Politics
    • Political Analysis
    • Government & Policies
  • Business & Economy
    • DIY and FAQ
    • Product Reviews
  • Entertainment
    • Sports
    • Movie
    • Music
  • Technology
  • Trends
  • Fact-Check
    • Investigative Reports
  • Opinion
  • Share your story
  • News
    • Breaking News
    • Global News
  • Politics
    • Political Analysis
    • Government & Policies
  • Business & Economy
    • DIY and FAQ
    • Product Reviews
  • Entertainment
    • Sports
    • Movie
    • Music
  • Technology
  • Trends
  • Fact-Check
    • Investigative Reports
  • Opinion
  • Share your story
No Result
View All Result
No Result
View All Result
Home Business & Economy

FG Targets Gas Marketers Over Doubling Prices Amid Supply Shortage

October 13, 2025
in Business & Economy
Reading Time: 3 mins read
0
Gas
Share on FacebookShare on TwitterShare on Linkedin
Spread the love

Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has directed authorities to take decisive action against marketers suspected of hoarding liquefied petroleum gas (LPG) or exploiting consumers, as cooking gas prices have doubled across the country in recent weeks.

The directive, announced Monday through a statement by the minister’s spokesman, Louis Ibah, comes as Nigerians grapple with a severe spike in LPG costs—from approximately ₦1,000 per kilogram to as high as ₦2,000 per kilogram in some areas—and deepening scarcity that has persisted despite the resolution of an earlier industrial dispute.

The crisis began when the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) embarked on a strike action during a dispute with the Dangote refinery. Although the strike was suspended nearly two weeks ago, prices have remained elevated and availability has worsened, raising questions about artificial scarcity and price manipulation in the supply chain.

Minister Ekpo attributed the dramatic price increase to what he described as a convergence of two significant supply-side factors. The first was the PENGASSAN industrial action at the Dangote refinery, which temporarily brought LPG loading operations to a standstill. The second was ongoing maintenance activities at the Nigeria LNG Train 4 facility, which has reduced the volume of gas flowing into the domestic market.

“The situation is temporary and will normalize by next week,” Ekpo assured Nigerians, appealing for calm and understanding as authorities work to restore normal supply levels.

The impact on household budgets has been severe and uneven across the country. In Lagos, Nigeria’s commercial capital, residents are now paying between ₦2,500 and ₦3,000 per kilogram for cooking gas, according to reports from Nairametrics last week. The cost of refilling a standard 12.5 kg cylinder has climbed to ₦21,600 in some parts of the city, while in the Amuwo Odofin area, the same service now commands as much as ₦26,000—equivalent to ₦2,080 per kilogram.

The situation in Abuja, while marginally better, remains punishing for households. Around the Nyanya axis, a 12.5 kg cylinder refill costs approximately ₦20,000, translating to ₦1,600 per kilogram.

Beyond the sticker shock, many Nigerians are confronting outright scarcity. Numerous filling stations and gas plants have reportedly exhausted their stocks, leaving desperate consumers at the mercy of street vendors who are charging premium prices for limited supplies.

The combination of reduced domestic supply from NLNG maintenance, disrupted operations at Dangote, and allegations of hoarding by marketers has created what industry observers describe as a perfect storm in Nigeria’s LPG market.

The minister’s order for a clampdown signals the government’s recognition that the current situation may involve more than just legitimate supply constraints. By targeting marketers who may be hoarding supplies or exploiting the crisis for profit, authorities are seeking to separate genuine scarcity from artificial manipulation.

However, with the minister promising normalization “by next week,” the effectiveness of the intervention and the accuracy of the timeline will be closely watched by millions of Nigerian households who depend on LPG for daily cooking needs.

As the situation develops, consumer advocacy groups and industry stakeholders will be monitoring whether the government’s dual approach—addressing supply constraints while cracking down on exploitation—can bring relief to a population already burdened by high inflation and cost-of-living pressures.

WHAT YOU SHOULD KNOW

Nigeria’s cooking gas prices have doubled—from ₦1,000 to ₦2,000 per kilogram—due to a workers’ strike at the Dangote refinery and maintenance at the NLNG facility. Despite the strike ending two weeks ago, prices remain high and scarcity persists.

The government has now ordered a crackdown on marketers suspected of hoarding and price exploitation, promising the situation will normalize within a week. Consumers in Lagos are paying up to ₦26,000 for a 12.5 kg cylinder, while many filling stations have run out of stock entirely.

The crisis reveals a potential mix of legitimate supply disruption and market manipulation that authorities are now moving to address.

Tags: Ekperikpe EkpoGASLPG
Share198Tweet124Share35
Previous Post

Nigeria Misses OPEC Quota as Oil Output Drops in September

Next Post

China Coal Imports Rise to 46 Million Tons in September Amid Price Gap

Related Posts

Oil

Global Oil Prices Fall

by Victoria Ogbadu
April 21, 2026
0

Crude oil prices tumbled more than $1 during Tuesday’s early trading session, as energy markets pivoted from the immediate shock...

Cash

CBN and NCC Sign New MoU

by Victoria Ogbadu
April 21, 2026
0

The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) on Monday signed a landmark Memorandum of Understanding...

Dangote Sugar Plans Massive Rights Issue

Dangote Sugar Plans Massive Rights Issue

by Victoria Ogbadu
April 20, 2026
0

Dangote Sugar Refinery Plc has secured shareholder approval to raise up to ₦500 billion through a Rights Issue, one of...

NPA

NPA Retirees Threaten to Shut Down All Ports (See Why)

by Victoria Ogbadu
April 20, 2026
0

Retired workers of the Nigerian Ports Authority (NPA) have issued a stern warning that could bring the nation’s critical maritime...

Flutterwave

FG Eyes $75 Million Stake in Flutterwave Listing

by Victoria Ogbadu
April 20, 2026
0

Nigeria's Federal Government is considering a $75 million stake in Flutterwave's $250 million public offering (IPO), marking an unprecedented sovereign...

Load More
Next Post
china

China Coal Imports Rise to 46 Million Tons in September Amid Price Gap

Trump at The Knesset

Trump Urges Pardon For Netanyahu Amid Knesset Protest, Historic Hostage Release

Nobel Prize In Economics Honors Pioneers Of Technological Growth, Creative Destruction

Nobel Prize In Economics Honors Pioneers Of Technological Growth, Creative Destruction

Donald Trump at The Knesset

Trump Hails Gaza Ceasefire, Declares ‘Jihadism and Antisemitism Have Failed’ In Historic Knesset Address

A Court gavel

Court To Rule October 16 On SunTrust Bank MD’s Bid To Cross-Examine EFCC Witness

NLC President Ajaero

NLC Rejects FG’s ‘No Work, No Pay’ Threat, Backs ASUU’s Two-Week Strike

President Tinubu of Nigeria

President Tinubu Mourns Evangelist Uma Ukpai, Describes Him As “An Anointed Crusader Of Faith”

Photo combo of Amnesty International logo and Tinubu

Amnesty International Criticizes Tinubu’s Presidential Pardon, Warns It May Undermine Rule Of Law

Trump After Signing Gaza Declaration

Trump Hails “Tremendous Day for the Middle East” as Israel, Hamas Ceasefire Takes Effect

YouTube Sign

YouTube Says Australia’s Social Media Ban for Children Won’t Make Them Safer

  • Trending
  • Comments
  • Latest
cbn governor olayemi cardoso

CBN Approves Merger Between Two Banks

February 23, 2026
2027: APC Governors Endorse Next Senate President After Akpabio

APC Governorship Candidate Joins ADC

March 16, 2026
NNPC Increases Petrol Price

NNPC Reduces Fuel Price

March 17, 2026
Kenya Airways

Viral video: Drama at Airport as Nigerian Woman Clashes with Kenya Airways Over Visa Issue

0
NLC

NLC Suspends Nationwide Protest Over Telecom Tariff Hike

0
VeryDarkMan

VeryDarkMan Vows to Uncover Truth in Mercy Chinwo and Ex-Manager’s Controversy

0
Oil

Oil Dips as Iran Ceasefire Doubts Bite

April 22, 2026
Photo of NEC meeting

Minister Quits for Governorship Race

April 22, 2026
Labour Party Logo

LP Unveils Subcommittees Ahead of Nationwide Congresses

April 22, 2026
Verily News

Copyright © 2025 Verily News.

Navigate Site

  • About Us
  • Advertise
  • Privacy & Policy
  • Contact Us
  • Terms and Conditions

Follow Us

No Result
View All Result
  • News
    • Breaking News
    • Global News
  • Politics
    • Political Analysis
    • Government & Policies
  • Business & Economy
    • DIY and FAQ
    • Product Reviews
  • Entertainment
    • Sports
    • Movie
    • Music
  • Technology
  • Trends
  • Fact-Check
    • Investigative Reports
  • Opinion
  • Share your story

Copyright © 2025 Verily News.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Get Breaking News Alerts on WhatsApp