BY Bunmi Aduloju
The Nigeria Liquefied Natural Gas (NLNG) says it has delivered three cargoes of liquefied petroleum gas (LPG) to the local market to moderate and guarantee consistent supply throughout the month.
Andy Odeh, general manager, external relations and sustainable development, told NAN on Friday in Lagos.
According to the general manager, the delivery will help ensure a steady supply of LPG to efficiently fulfil market demand.
Odeh said NLNG has taken steps to ensure the market is adequately supplied during the December holiday season.
He said one of the elements that contributed to the drop in LPG prices was the announcement that the value-added tax (VAT) on imports of LPG has been removed.
Odeh added that there had been a moderation in demand due to the holiday season.
NLNG, according to Odeh, was still selling LPG based on the West Africa index price.
“There is no change in the applicable price index,” he said.
The GM said the West Africa index price continues to be NLNG’s pricing base.
“NLNG remains committed to supplying 100 per cent of its LPG to the domestic market,” he said.
Odeh said regular supplies from other sources within Nigeria and also from imports will help in moderating prices.
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