The Nigerian National Petroleum Company (NNPC) Limited has linked the recent rise in cooking gas prices to the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
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Group Chief Executive Officer of NNPC, Bayo Ojulari, said the industrial action temporarily disrupted loading and distribution, creating an artificial shortage across the country.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
Speaking with journalists after meeting President Bola Tinubu on Sunday, Ojulari explained that the strike caused a delay of about two to three days in product movement, which in turn affected supply.
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LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
He said the short-term scarcity allowed some marketers and retailers who already had stock to take advantage of the situation by increasing prices, leading to a noticeable spike in the cost of liquefied petroleum gas (LPG).
Ojulari described the price surge as artificial and assured Nigerians that the situation would soon stabilise as operations resume fully.
He expressed confidence that prices would return to normal levels once distribution channels are restored nationwide.
The NNPC boss reaffirmed the company’s commitment to ensuring consistent supply and stable pricing of petroleum products, adding that new measures are being put in place to prevent future disruptions in gas distribution.
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