NNPC Moves To Crash Price Of Cooking Gas

The Nigeria National Petroleum Corporation(NNPC) has revealed plans to reduce the price of cooking gas.

As part of its efforts to stop the exportation of butane and propane, which are core components of liquefied petroleum gas(cooking gas), NNPC is set to see consumption of cooking gas in Nigeria piquing higher than ever.

”The Nigerian National Petroleum Corporation (NNPC) is set to implement effective commercial framework that would halt the export of propane and butane which are major components in the production of Liquefied Petroleum Gas (LPG), also known as cooking gas,” the statement read in part.
 
Group General Manager, Group Public Affairs Division of the NNPC, Ndu Ughamadu explained that the move to stop the export of propane and butane which is anchored by the Crude Oil Marketing Division of the Corporation would enable the Corporation boost supply of LPG to the domestic market thereby leading to a natural downward slide in the price of the product in the country. 
 
The NNPC spokesman quoted the Group General Manager, Crude Oil Marketing Division (COMD) of the Corporation, Mallam Mele Kyari, as saying: “Currently some of our butane and propane entitlements are exported largely due to lack of vessels to make sure that these things come into the domestic markets and the absence of a commercial framework. What we are going to do is to make sure we put the right commercial framework in place so that those exports are converted into domestic consumption.”

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Mallam Kyari who disclosed this at a strategy session said the Division was working in connection with stakeholders to create the enabling environment for in-country production of LPG and cessation of export of the country’s equity butane and propane entitlements due to absence of in-country vessels for transport and other considerations.
 
The COMD GGM, Kyari said that the goal of the Division in 2019 is to complete the automation process in the marketing and sale of Nigerian crude oil grades which teed-off in 2017, noting that all hands must be on deck to achieve 100 percent, end-to-end conclusion of the process.
 

 

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