The Federal Government has announced a halt on the export of locally produced Liquefied Petroleum Gas (LPG), or cooking gas, starting November 1, 2024, in an effort to stabilize domestic prices. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, stated that Nigerian producers, including NNPCL, will cease LPG exports or must import equivalent volumes at cost-reflective prices.

This decision follows a meeting convened by Ekpo with industry stakeholders to address rising LPG costs and their impact on Nigerians. He directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to create a new pricing framework based on domestic production costs within 90 days, moving away from global market indexing.

The government also plans long-term solutions within 12 months, including the development of facilities to store, blend, and distribute LPG domestically to achieve price stability. Despite prior efforts, LPG prices have continued to climb, currently reaching N1,500 per kg. Ekpo’s measures aim to ensure accessible and affordable cooking gas for Nigerians.