The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr. Bayo Ojulari, has shed light on the recent surge in cooking gas prices across the country.
Speaking with State House correspondents, Ojulari attributed the hike to the temporary disruption in operations caused by last week’s strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). He said the industrial action halted loading and distribution for a few days, creating an artificial shortage that drove up prices.
“The increase you saw was relatively artificial because, during the strike, movements and loading were delayed by about two or three days. That delay created the temporary impact. As things return to normal, it takes some time for distribution to fully stabilise,” Ojulari explained.
He also accused some retailers of exploiting the situation to inflate prices, saying, “In Nigeria, people take advantage. With that delay, some who had reserves decided to hike the price.”
Ojulari assured Nigerians that prices will drop soon, adding that as supply chains stabilise, costs are expected to return to normal levels in the coming weeks. The price increase followed PENGASSAN’s strike over the dismissal of Nigerian workers at the Dangote Refinery.
