The price of cooking gas may go down very soon following the plan by the Nigerian National Petroleum Corporation, NNPC, to stop the export of propane and butane which is anchored by its Crude Oil Marketing Division.
The action, it was explained, would enable the corporation to boost supply of LPG to the domestic market and lead to the reduction in the price of cooking gas in the country.
This was made known by NNPC’s General Manager, Group Public Affairs Division, Ndu Ughamadu.
“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,” Ughamadu quoted the Group General Manager, Crude Oil Marketing Division (COMD) of the NNPC, Mallam Mele Kyari, as saying.
He said Mallam Kyari made this known at a strategy session.
According to him, the division, in conjunction with stakeholders planned to create the enabling environment for in-country production of LPG.
They also plan to stop the export of the country’s equity butane and propane entitlements due to absence of in-country vessels for transport and other considerations.
Kyari was said to have explained that the goal of the Division in 2019 was to complete the automation process in the marketing and sale of Nigerian crude oil grades which took off in 2017.
All hands, he said must be on deck to achieve 100 per cent, end-to-end conclusion of the process.