The Nigerian National Petroleum Company Limited, NNPC, says the recent spike in cooking gas prices is largely due to disruptions caused by last week’s strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN. Group Chief Executive Officer, Bayo Ojulari, told journalists after visiting President Bola Tinubu that the strike delayed loading and distribution for several days.
Retail prices have since jumped sharply across the country, with 12.5kg cylinders selling for between ₦20,000 and ₦27,000 — a nearly 50 percent increase. Some marketers were reported to have raised prices despite having existing stock.
Also Read: PENGASSAN backs NUPENG strike threat, vows to halt refinery operations
Mr. Ojulari described the surge as temporary and partly artificial, saying distribution is now resuming. He expressed optimism that prices will stabilise soon as normal supply operations are restored following the suspension of the industrial action.
Leave feedback about this
You must be logged in to post a comment.