Tag
LPG
The Presidential Fiscal Policy and Tax Reforms Committee has clarified that the proposed 5% fuel surcharge under Nigeria’s...
The Nigeria Customs Service has announced the removal of import duties on imported cooking gas otherwise known as Liquefied Petroleum Gas, as well as all imported equipment and spare parts related to Compress Natural Gas as incentives for their adoption.
The federal government has ordered the Nigerian National Petroleum Company Ltd. (NNPC Ltd.) and Liquefied Petroleum Gas (LPG) producers to halt the export of LPG or cooking gas from November 1 to reduce prices across the country.
The average price of a 12.5kg Liquefied Petroleum Gas (cooking gas) in the South-south geopolitical zone reached N16,524 in August according to data from the National Bureau of Statistics (NBS).
The average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) in Nigeria dropped by 14.23% in July 2024, falling from N6,966.03 in June to N5,974.55.
The average price of 5kg cooking gas declined by 6.10% in June 2024- the largest in the last 12 months according to data from the National Bureau of Statistics (NBS).
Kenya is negotiating with a subsidiary of Nigeria’s Sahara Group Ltd. to jointly construct a 30,000-ton facility for handling and storing liquefied petroleum gas (LPG), according to sources familiar with the matter.
The average retail price of 5kg of Liquefied Petroleum Gas (cooking gas) increased by 13.75% from N6,521.58 recorded in April 2024 to N7,418.45 in May 2024.
The average retail price to refill a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) rose by 42.97%, from N4,610.48 in March 2023 to N6,591.62 in March 2024. Comparatively, the price saw a monthly increase of 7.10% from N6,154.50 in February 2024.
In February 2024, the cost to refill a 5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) rose to N6,154.50, marking a N1015.25 (19.75%) increase from January 2023's price of N5,139.25.
Olu Verheijen, the special adviser on energy to President Bola Tinubu, has stated that the recent oil and gas reforms by President Bola Tinubu are geared towards revamping the economy and improving revenue generation from the sector.
Last week, while Nigerians faced rolling blackouts, the country took a significant step forward in gas logistics which could have significant implications, and lessons, for the wider sector and economy.