The Nigerian National Petroleum Company Limited (NNPCL) has attributed the surge in cooking gas (LPG) prices to the recent industrial action by PENGASSAN. NNPCL’s Group CEO, Bayo Ojulari, explained the hike came after disruptions in loading and distribution during the strike caused several days of delay.
Ojulari said the increase was “relatively artificial”—in other words, the strike led to temporary supply constraints, which some marketers seized on by inflating prices. He added that as distribution returns to normal, prices should ease off.
In markets, 12.5 kg cylinders of cooking gas have been reported at prices of ₦26,000 to ₦27,000, with kilogram rates reaching ₦2,000+, which marks a roughly 48.6 % jump from previous levels.
Some critics argue that even after the strike ended, price normalization is slow and inconsistently applied across regions, hinting at profiteering by some retailers.
