Why cooking-gas price increased

The Nigerian National Petroleum Company Limited, NNPCL, has ascribed the recent increase in cooking gas prices to a temporary interruption in loading and distribution caused by the Petroleum and Natural Gas Senior Staff Association of Nigeria’s strike.

Mr Bayo Ojulari, the Group Chief Executive of NNPCL, announced this to State House media on Sunday following a meeting with President Bola Tinubu.

According to Ojulari, the industrial action halted operations for many days and caused a “artificial” surge in pricing.

“The increase you saw was relatively artificial because for the period of the strike, movements and loading were delayed by about two, three days.

“And because of that, you see that impact. As things return back to normal, it takes some time for distribution to be fully restored,” he said.

The hike in price reportedly followed the PENGASSAN industrial action, which was launched over the dismissal of Nigerian workers at the Dangote Refinery and suspended on October 1 after federal government intervention.

Ojulari assured Nigerians that the cooking gas price is expected to ease in the coming weeks as supply chains stabilize.