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Cooking gas price: 12.5kg cylinder size to hit N10,000 by December, say marketers

Cooking gas price: 12.5kg cylinder size to hit N10,000 by December, say marketers

Maketers has said cooking gas may increase more by December. 12.5kg cooking gas according to marketers may sell for N10,000 by Dec.

Cooking gas today sells between N7,500 and N8,000 but could rise to N10,000 before December if nothing was done to address the crisis.

The high increment in the price of gas has forced Nigerians to resort to using firewood, charcoal, sawdust, among other unrefined energy sources.

However, the prices of this alternatives have also begun to rise. This was disclosed by the Executive Secretary of the National Association of LPG Marketers, Mr Bassey Essien, during the weekly e-discourse organised by a leading Pan-African forum, Platforms Africa, a statement on Saturday by the organisation’s Team Lead, Adeola Yusuf, said. Platforms Africa is the e-community of intellectuals, policy moulders and opinion leaders on the continent.

Essien insisted that a review to the recently introduced import charges and Value Added Tax, will be necessary else “the price of cooking gas may increase more.”

According to his statement it reads:- “Today (Saturday), the price has risen to N7,500 and N8,000. The skyrocketing price of gas is our fear and what we are trying to avoid. Early in the year a 20-metric ton of gas was selling for below N5m but today, the same tonnage sells for N10.2m. As long as there is that supply shortage, the available quantity and the dynamics of supply-demand will keep pushing the price higher.”

Lamenting poor patronage of NALPGAM by customers due to the high price, Essien said the association was concerned that more Nigerians were being forced to return to coal, sawdust, kerosene, and other dirty fuel as “the price of the cooking gas has suddenly gone up.”

He, however, said the association was interfacing with the government, stakeholders, producers and importers to see how the situation could be addressed.

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