Wit continued rising cost of Liquefied Petroleum also known as Gas cooking gas, the Nigerian National Petroleum Company Limited is currently increasing its supply in a bid to pulling down the price of the commodity.
This was disclosed by the Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, at the inauguration of a 120-metric tonnes LPG storage and bottling plant by Emadeb Energy Services Limited in Abuja.
According to the GMD of the NNPC, the hike in cooking gas prices was an international issue.
He said, “Two things are in play. 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.”
There would not have been a better time to do this that this time as people prepare for the yultide season.