The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says liquefied petroleum gas (LPG) wholesalers and retailers are charging non-cost-reflective prices, pushing cooking gas prices as high as N2,100 per kilogram despite significantly lower indicative prices issued by the regulator.
The authority disclosed this in a presentation delivered by Rabiu Umar, chief executive officer (CEO) of the NMDPRA, at an emergency stakeholders’ meeting convened by the Ministry of Petroleum Resources over rising LPG prices.
According to NMDPRA, consumers across the country are paying far above the regulator’s indicative pricing benchmarks due to marketer profiteering and distribution bottlenecks.
The NMDPRA said cooking gas sells for between N1,600/kg and N2,100/kg in the south-west despite an indicative price range of N1,018/kg to N1,177/kg.
In the north-central, LPG prices range from N1,550/kg to N1,950/kg against an indicative benchmark of N1,066/kg to N1,224/kg, while consumers in the south-south pay between N1,400/kg
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