Business Nigeria: Price of Cooking Gas to Fall as NLNG Intervenes

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LequteMan

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The Nigerian Liquefied Natural Gas (NLNG) Limited has delivered 13,000 tones of LPG (cooking gas) in Lagos jetty during the weekend, which in turn is expected to crash the price of the commodity.

General Manager, External Relations, NLNG, Mr. Kudo Eresia-Eke, said following the delivery of the 13,000 tonnes of LPG, the vessel is scheduled to return to NLNG’s facility in Bonny, Rivers State, to reload, adding that NLNG would continue in its efforts to ensure adequate supply and price stability to the market.

Cooking gas price had hit an all time high of N5,000 from N3,200 in recent weeks, a 53.3 increase. There had been reports that the NLNG had increased the price of the commodity, claims which the firm denied.

The company, in a statement by its spokesman, explained that domestic LPG price is based on an international price index plus 50 per cent of the shipping cost of delivering the product to receiving facilities in Apapa, Lagos.
 

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