Gas retailers have warned that the price of 12.5kg cooking gas may hit N18,000 by December if the Federal Government does not restrict the activities of the terminal owners.
The President, Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, told reporters that the price of Liquefied Petroleum Gas also known as cooking gas has gone astronomically high at terminals as a result of a sudden increment from between N9-N10m per 20 metric tons to N14m per 20 metric tons.
According to him, terminal owners were hiding under the guise of high foreign exchange to increase price to further increase the suffering of the masses.
Olatunbosun said there was no justification for the increment, as the Nigerian Liquefied Natural Gas Limited still supplied the market.
