The Nigerian National Petroleum Company (NNPC) Limited, has disclosed that as part of measures to bring down the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, it is increasing supply of the commodity to the market.
This is even as it clarified that the current hike in price was not peculiar to Nigeria, but a global problem.
Group Managing Director of the company, Mele Kyari, made this known at the inauguration of a 120-metric tonnes LPG storage and bottling plant by Emadeb Energy Services Limited in Abuja.
Speaking to journalists, he explained that the over 240 per cent hike witnesses in the price of the commodity from the beginning of the year till now was attributable to two things.
“One is the supply in the international market of gas. It moves with the price of every other petroleum product including crude oil and its derivatives.
“So definitely, it is a reflection of what is happening in the international market. However, what we are doing is to increase supply and once supply increases, price will come down,” Kyari stated.
