Cooking gas prices have more than doubled in recent months, surpassing N1,000 per kg in some parts of the country due to supply constraints.
The government committee was constituted by the Minister of State for Petroleum Resources (Gas). It is chaired by the Executive Secretary of the Petroleum Equalisation Fund.
The committee includes representatives from the Nigerian National Petroleum Company (NNPC), LNG producers, marketer associations, and other stakeholders.
They have been tasked with investigating the reasons for the spike in prices and coming up with recommendations within one week to bring prices down to affordable levels.
The Minister blamed the rise on the activities of multi-nationals, who he said were more focused on exporting Nigeria’s huge gas reserves than prioritising the domestic market.
Addressing cooking gas scarcity and price hikes is an urgent priority for the government to provide affordable energy to citizens and reduce deforestation caused by relying on firewood.
Analysts say removing bureaucratic red tape, streamlining taxation, and improving local manufacturing and distribution capacity could help stabilise prices long-term.
So in summary, the committee aims to intervene in the short term while broader reforms are needed sustainably. The focus is on making cooking gas affordable again for Nigerian households.
