The Nigerian National Petroleum Company (NNPC) Limited has said the recent general spike in price of liquefied petroleum gas (LPG) aka cooking gas is due to a recent industrial action by Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
Bayo Ojulari, Group Chief Executive Officer (GCEO) of the NNPC made this known while speaking to State House correspondents on Sunday after a courtesy visit to President Bola Tinubu.
Ojulari said the industrial action disrupted loading and distribution for several days, which temporarily affected supply and caused prices to rise.
General checks indicate that gas prices in Lagos are at about 2000 naira per kilogram in Lagos and at about 1600 naira per kilogram in Abuja.
Ojulari noted that while the strike created temporary delays in distribution, some retailers with existing stock also took advantage of the situation to raise prices.
“The increase you saw was relatively artificial,” he explained. “During the strike, movement and loading were delayed by about two to three days. As things return to normal, it takes some time for distribution to stabilize. Unfortunately, some people took advantage of the situation to hike prices.”
He assured that the price hike was temporary and that things would return to normal soon enough.
Recall PENGASSAN had gone on strike over the dismissal of Nigerian workers at the Dangote Refinery but suspended the action on October 1 after government intervention led to an agreement to redeploy the affected staff.
