Why Cooking Gas Price Is Increasing - Luwoye

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The chief executive officer of Ecogas Energy Resources Limited, one of the major processors and distributors of LPG in Nigeria, Chief Shina Luwoye, FCA

has revealed that import dependency and other factors are responsible for the skyrocketing prices of cooking gas in Nigeria.

Disclosing this during an interaction on Platforms Africa, he maintained that this factor, worsened by the introduction of 7.5 per cent Value Added Tax , devaluation of Naira as well as scarcity of dollar, were responsible for the surge in the prices of the product. He said: “The federal government’s efforts to deepen adoption of LPG have been yielding results. We can boldly see this through the high demand for the product. Even my aged mother who hitherto forbids her tenants from using cooking gas now uses LPG for cooking. The gains we have recorded, which now make more people demand for gas shows that we have done well as a country in terms of gas.

 

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