The Federal government has again attributed the rising cost of cooking gas to shortage of supply and the prevailing global price.
Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, who spoke Monday at the commissioning of 120 metric tons Liquefied Petroleum Gas (LPG) storage and bottling plant built by Emadeb Energy Service Limited, however, assured that the government is working towards increasing product supply.
As the price of gas moves with the price of crude, Kyari noted that the high cost of cooking gas being experienced across the country is nothing other than a reflection of the prevailing situation at the international market.
“What we are doing is to increase supply. Once supply increases, the price will come down,” he assured.
The GMD also pledged the government’s support for private investors to ensure that the demand for the product is met.
According to him, the government would guarantee supply to any organisation that ventures into the gas business.
“As you are aware, we are NNPC Limited. While we are here to support Nigerians, we are also here to make money. Therefore, we would be there upstream to provide the gas that would be supplied through our numerous initiatives,” he stated.
The Chief Executive Officer of Emadeb Group, Mr. Debo Olujimi, who assured of a consistent supply of the commodity to Lokogoma area of the Federal Capital Territory (FCT) and environs, urged the government to encourage private investors in the sector.
Olujimi said the company’s driving force remains that someone must engage in the business irrespective of the discouraging factors because of the value attached to it.
“I feel fulfilled that Emadeb Group is bringing clean energy to Abuja market. There is a lot of value in gas because it is the way forward,” he said.