NNPC to crash gas price with increased supply

The Nigerian National Petroleum Corporation (NNPC) Limited on Monday said it was working hard to boost the supply of the Liquified Petroleum Gas (LPG), otherwise known as cooking gas.

According to its Group Managing Director, Malam Mele Kyari, once the corporation raises its supply, the price will fall.
He spoke to reporters after commissioning Emadeb Energy Services Limited’s 120MT LPG Storage and Bottling Plant in Abuja.

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Asked how the Nigerian masses will afford the gas in view of the rising price, he explained that the high price was triggered at the international market.
Kyari said: “Two things are in play. One is the supply, and the other is the supply in the international market of gas.
“As you are aware, it moves with every other petroleum product, including crude oil and its derivatives.

“Definitely, it is a reflection of what is happening in the international market.
“What we are doing is to increase supply. Once supply increases price will fall.”