Nigerian gas retailers have raised the alarm that the 12.5kg cooking gas price may increase to N18,000 by December if the Federal Government fails to intervene.
Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, disclosed this on Sunday.
He lamented that the gas price has skyrocketed astronomically from N9-10 million per 20 metric tons to N14 million.
Oladapo called on the regulatory authority to step in and checkmate the situation.
According to him, terminal owners are “hiding under the guise of high foreign exchange to increase prices to further increase the suffering of the masses.”
“There is a ridiculous hike in gas prices going on right now, and I am afraid that if the Federal Government does not step in to checkmate the activities of these terminal owners, prices could reach as high as N18m per metric ton by December. This means that a 12.5kg could go as high as N18,000”, he stated.
Newspot reports that a 12.5kg cooking gas cylinder is being sold for N10,000.