Nigeria exporting gas while citizens can’t buy due to price surge – Economist
Muda Yusuf, an economist and former Director-General, Lagos Chamber of Commerce and Industry has described the recent hike in price of Liquefied Petroleum Gas (LPG) as inimical to the drive to promote the use of clean energy and protect the environment.
Mr Yusuf said this in an interview with newsmen in Abuja on Thursday while reacting to the continuous increase in LPG (cooking gas) price.
It had earlier been reported that the hike started in April 2021 when gas per kilogramme was sold for between N280 and N300 but the price later rose to N750 per.
Currently 20 tonnes of LPG is sold for more than N9.5 million against N4 million sold before the hike. A 12.5 kg cylinder of gas is sold at N9,300 as against N8,500 two weeks ago.
Mr Yusuf, Chief Executive Officer of Centre for Promotion of Private Enterprises, warned that there could be a relapse of accelerated deforestation if the spike was not checked.
He said it was noteworthy that significant progress was made in getting a good percentage of the population to transition from the use of firewood and kerosene to use of LPG.
He said although the campaign had won a lot of converts even in many villages but the spike in LPG price may reverse the gains and it would not augur well for the preservation of the environment.
It was gathered that the oil and gas stakeholders recently met with government representatives and regulatory agencies to come up with suitable option to adopt in order to crash the gas prices.
