The Nigeria LNG Limited has accused some marketers of contributing to the sharp rise in the price of cooking gas by buying liquefied petroleum gas from the company at prices between N800 and N900 per kilogramme and selling it for as much as N2,400/kg in the retail market.
The Managing Director and Chief Executive Officer of NLNG, Adeleye Falade, disclosed this during a recent media briefing in Lagos, where he attributed the price spike to supply shortages, artificial scarcity and distortions in the distribution chain rather than the company’s pricing.
According to him, when the retail price of LPG climbed to N2,400/kg, NLNG was selling the product to buyers at between N800 and N900/kg. He said the price was supposed to be in the range of N1,000 to N1,200, going by the recommendation of the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
“When the product was being sold at N2,400
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