The federal government has directed security agencies and regulators to crack down on hoarding, illegal diversion and speculative storage of liquefied petroleum gas (LPG), commonly known as cooking gas, as prices of the product skyrocket across the country.
Ekperikpe Ekpo, minister of state for petroleum resources (gas), who spoke at an emergency stakeholders’ meeting in Abuja, said the Department of State Services (DSS), Economic and Financial Crimes Commission (EFCC) and the Nigeria Police Force would be involved in tackling practices contributing to higher prices.
He directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify market surveillance and work with security agencies to eliminate artificial scarcity, discourage hoarding and improve transparency in product distribution and pricing.
Ekpo said marketers had expressed willingness to increase imports where necessary, while new domestic supplies, including from the Seplat gas facility, would boost availability in the coming weeks.
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