Hunger Looms In Household As Cooking Gas Price Increases
The surge in the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has raised concerns about impending hunger in households, particularly as the cost of essential commodities continues to escalate.
Currently priced at N14, 150 per 12.
5kg cylinder, marking a significant 38% increase compared to April 2023, the soaring prices of cooking gas have placed additional financial strain on already burdened consumers.
Similarly, the cost of aviation fuel in the domestic market has surged to between N1, 300 and N1, 500 per liter, representing a 33% increase from the previous year. This trend reflects broader economic challenges, including foreign exchange instability, which continues to impact the domestic market, leading to further price hikes.
The President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Mr. Oladapo Olatunbosun, attributes the persistent rise in cooking gas prices to the foreign exchange crisis, highlighting the close correlation between currency fluctuations and commodity pricing.
Despite government initiatives aimed at promoting the use of gas as a transition fuel, such as the withdrawal of taxes and levies on gas-related equipment imports, challenges in production and distribution persist, hindering accessibility and affordability for consumers.
Addressing these concerns, the Minister of Petroleum (Gas), Ekperikpe Ekpo, emphasizes ongoing efforts to engage stakeholders and regulate the industry to prevent gas exportation and ensure domestic supply.
However, he acknowledges the complexities involved in implementing policies and controlling market forces, underscoring the need for collaborative efforts to stabilize prices and enhance accessibility.
In response to the escalating cost of cooking gas, many households, especially those in rural and outlying areas, have resorted to increased utilization of firewood, exacerbating
deforestation challenges.
This shift underscores the urgent need for sustainable energy solutions and comprehensive strategies to address the evolving energy landscape while mitigating environmental degradation and promoting food security.
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