Group Managing Director of the Nigerian National Petroleum Company NNPC Limited, Mele Kyari, has attributed the high price of Liquefied Petroleum Gas LPG to the rising price of crude oil and its derivatives at the world market.
Kyari stated this at the inauguration of the Emadeb Energy Services Limited’s Storage and Bottling Plant in Abuja.
He, however, assured Nigerians that the NNPC Limited was working round the clock to boost the supply of LPG to ensure a crash of the price.
Residents of Abuja and environs now spend between 8,500 and 9,500 naira to for a 12 kilogram gas cylinders as against the former price of between 4,000 and 6,000 naira.
The NNPC GMD said that the newly-inaugurated LPG plant was going to reduce the cost of energy for Nigerians for the fact that LPG is cheaper than any other product, especially as cooking fuel.
He commended the firm for building the LPG plant in Abuja, explaining that the project aligned with one of the steps the Federal Government had taken to provide gas for its citizenry.
He lauded the plan by the company to build similar plants in six different locations across the country within the next 12 to 18 months, adding that this was in line with President Muhammadu Buhari’s decade of gas initiative.