Business

Cooking Gas Demand Falls By 38%, Marketers Clash Over Price

Published

4 years ago

May 29, 2022

National cooking gas demand has dropped by 38 percent, according to the Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM.

The revelation came on the heels of clamours by a group of experts on Tuesday that demand for Liquefied Natural Gas, popularly known as cooking gas, had dropped to a record low across the country.

The President of the Nigerian Gas Association, Ed Ubong, said at a downstream event in Lagos that national gas consumption had dropped due to high prices.

The Executive Secretary of NALPGAM, Bassey Essien, also confirmed the development to The PUNCH during a telephone interview.

Following the clamour, NALPGAM, President Oladapo Olatunbosun, on Wednesday, said gas demand had dropped from 1.2 million metric tonnes per annum (mmtpa) to around 750,000mtpa.

“We are aware that the local consumption of cooking gas has dropped from 1.2 million metric tonnes per annum (mmtpa) to around 750,000mtpa out of which about 600,000 mtpa is supplied by local producers,” he said, bringing the percentage drop in demand to 37.5 percent per annum.

This brings to fore, the achievement of President Buhari’s National Gas Expansion Programme which seeks to deepen local gas usage within the next decade.

The Federal Government had targeted a consumption of 5mn metric tonnes per annum.

Olatunbosunalso alleged that the Nigeria Liquefied Petroleum Gas Association inflated price of a 20metric tons by 100 percent.

According to him, gas importers who were members of NLPGA sold to plant owners at N12.7million per 20metric tons (MT) despite purchasing the product at around N7 million per 20MT from NLNG and other local producers.

While NALPGAM is the association of indigenous private companies with operating gas bottling plants with membership spread across the country, the NLPGA is the umbrella body of all stakeholders including importers, skid owners and also players in the LPG sector in Nigeria.

According to him, cooking gas, as at Monday, May 23, was N750 per kilogram(Kg) at the depot and was sold at N800/kg at the retail end in Lagos, Ogun and some states in the South West, while the same quantity went as high as N900 to N1000 per kg at retail end in Gombe and Bayelsa and other states.

He said, “It does not make economic sense to be supplied with a receipt of around N7 million per 20MT and sell to consumers at the same price that imported LPG landed in Nigeria.

“Give us the exact figure of LPG your members got from NLNG. We are aware that the local consumption of cooking gas has dropped from 1.2 million metric tonnes per annum(mmtpa) to around 750,000mtpa out of which about 600,000 mtpa is supplied by local producers.”

The General Manager, External Relations & Sustainable Development, NLNG, Andy Odeh, told Sunday PUNCH in an email response that it could not disclose its contractual agreement with its customers. “We have no comments on your enquiries as our sales terms are confidential and commercially sensitive information,” he said, when asked to disclose the price it sold to marketers.

While speaking during one of the technical sessions on the topic ‘Gas as a catalyst for sustainable economic development- The role of Nigerian Content’, at ‘The Nigerian Content Midstream and Downstream Oil and Gas Summit 2022’ organised by the Nigerian Content and Development Monitoring Board, NCDMB, in Lagos on Tuesday, gas stakeholders unanimously submitted that national gas consumption was currently very low and expressed worry over the dwindling purchasing power of Nigerians.

PUNCH

Business

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

18 hours ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

3 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

6 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.