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The Nigerian National Petroleum Company Limited (NNPCL) has attributed the recent increase in cooking gas prices to a temporary disruption in loading and distribution caused by the strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria.
The Group Chief Executive of NNPCL, Mr. Bayo Ojulari, shared this information while addressing State House correspondents on Sunday, following a meeting with President Bola Tinubu.
Ojulari explained that the industrial action halted operations for several days, resulting in an “artificial” surge in prices.
“The increase you observed was primarily artificial because, during the strike, loading and movement were delayed by about two to three days.
“As a result, you see that impact. As operations return to normal, it will take some time for distribution to be fully restored,” he stated.
The price hike reportedly followed the PENGASSAN industrial action, which was initiated due to the dismissal of Nigerian workers at the Dangote Refinery and was suspended on October 1 after intervention from the federal government.
Ojulari reassured Nigerians that cooking gas prices are expected to decrease in the coming weeks as supply chains stabilize.
Why did cooking gas prices increase recently?
The increase was primarily due to a temporary disruption in loading and distribution caused by a strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria.
When can we expect cooking gas prices to decrease?
NNPCL expects that cooking gas prices will ease in the coming weeks as supply chains stabilize.
