Sellers of Gas in Nigeria have warned that the price of 12.5kg cooking gas may be hiked to N18,000 by December if the Federal Government does not check the activities of the terminal owners.
The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, said that the price of Liquefied Petroleum Gas also known as cooking gas has “gone astronomically high at terminals as a result of a sudden increase from between N9-N10m per 20 metric tons to N14m per 20 metric tons.
According to him, terminal owners were hiding under the excuse of high foreign exchange to increase prices.
Olatunbosun said there was no justification for the increment, as the Nigerian Liquefied Natural Gas Limited still supplied the market.