President of Nigerian Liquefied Petroleum Gas Association (NLPGA), Felix Ekundayo, has shed light on the driving forces behind the surge in Liquefied Petroleum Gas (LPG) prices, commonly known as cooking gas. In an interview in Lagos, Ekundayo attributed the price hike to a combination of international price increases and Nigeria’s foreign exchange (FX) challenges.
“As we approach the final quarter of 2024, our journey together solidifies in the quest to proffer how gas can be a possible means of helping the country recover from the current economic challenge it finds itself,” Ekundayo stated. He emphasised that this is a “crucial time for reflection and renewed focus on our shared goals as we push forward with even greater determination.”
The NLPGA president expressed concerns over the environmental implications of Nigerians reverting to coal and firewood due to the increased cost of LPG. This shift, he warned, could lead to heightened pollution and health issues.
Ekundayo revealed that the NLPGA is collaborating with the government to ramp up local production and reduce reliance on imports. He also highlighted the importance of increasing overall gas production to benefit both the LPG and emerging Compressed Natural Gas (CNG) sectors.
Ekundayo expressed optimism that the current high prices might represent the peak, with potential reductions on the horizon if local production increases and additional government initiatives are implemented.
Additionally, Ekundayo announced plans to change the association’s name to Nigeria Liquefied and Compressed Gases Association (NLCCA) at its Extraordinary General Meeting (EGM) on September 30, 2024. This change aims to expand the association’s scope to include CNG, LNG, hydrogen, and biogases.
“Our commitment to safety remains unwavering, as demonstrated by our recent engagements and initiatives,” Ekundayo said, emphasising the association’s focus on safety measures, including safety audit checklists and training for operators.
