The Federal Government has announced plans to implement measures aimed at significantly reducing the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas. Additionally, efforts will be made to promote the domestication and widespread availability of LPG to ensure accessibility for consumers nationwide.
Mr. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), conveyed this during a Stakeholders’ Consultative Meeting held on Tuesday in Abuja. Ekpo emphasized that prioritizing the domestication and accessibility of LPG is among the top three focus areas of the administration led by President Bola Tinubu.
He outlined another priority area as intensifying efforts to boost upstream gas production to meet demand and bolster key economic sectors such as Gas to Power, Gas-Based Industries (GBIs), and Gas for Export.
The government aims to concentrate on completing major gas midstream infrastructure and projects, including the AKK Gas Pipeline Project, the OB3 Gas Pipeline Project, and the ANOH Project. These initiatives, as highlighted by the minister, will facilitate flagship projects like the Brass Methanol Project, thereby enhancing the efficiency and capacity of the gas sector.
“It is imperative that we work together to unlock more resources to provide gas for power, GBIs, LNG export, and domestic use.
(This will) foster economic growth, ensure energy security and eradicate poverty, a cardinal objective of President Bola Tinubu’s Renewed Hope Agenda.
“Nigeria is positioned as one of the leading gas-rich countries in the world. We have, however, not unlocked the full potential of this valuable resource.
“This underperformance can be attributed to gas flaring, inadequate infrastructure, pricing concerns, policy and regulatory gaps, and limited funding.
“(It also include) environmental concerns, the growing urgency for a smooth energy transition as well as a lack of comprehensive gas development blueprint,’’ he said.
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