5% cooking gas price drop spurs Nigerian demand

There are indications that demand for Liquefied Petroleum Gas (LPG), has increased in Nigeria as the price of the commodity dropped by 5 per cent. A market survey in Lagos and its environs over the weekend showed that 12.5kg which went for N4, 000 in the second week of November, 2018 dropped to N3, 800.

Also, the price of 25kg which went for N8, 000 during the period dropped to N7, 600. In an interview with newsmen, some dealers stated that the development was as a result of increased supply of the product.

The Executive Secretary, Nigerian Association of Liquefied Petroleum Gas Marketers, Mr. Bassey Essien, who confirmed the situation also stated in an interview that there has been massive supply from the foreign markets and the Nigerian Liquefied Natural Gas (NLNG) Limited in the past few weeks.

Source: Vanguard

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