Sunday, June 16, 2019
Advertisement

NNPC to crash prices of cooking gas

NNPC to crash prices of cooking gas
January 11
10:07 2019
Advertisement

The Nigerian National Petroleum Corporation (NNPC) says it is working to crash the price of cooking gas in the country.

It said this would be done through the implementation of an effective commercial framework that would halt the export of propane and butane from the country.

Mele Kyari, NNPC’s group general manager, crude oil marketing division (COMD), made this known in a statement issued by the corporation in Abuja on Thursday.

He said that propane and butane were major components in the production of liquefied petroleum gas (LPG), also known as cooking gas.

He said the move to stop the export of propane and butane which was anchored by the crude oil marketing division would enable the corporation boost supply of LPG to the domestic market.

This, he said would lead to a natural downward slide in the price of the product in the country.

“Currently some of our butane and propane entitlements are exported largely due to lack of vessels to make sure that these things come into the domestic markets and the absence of a commercial framework,”

“What we are going to do is to make sure we put the right commercial framework in place so that those exports are converted into domestic consumption.”

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2019 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Advertisement

Social Comments

0 Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement
Advertisement

Exchange Rates

June 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement