ADVERTISEMENT
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Saturday, May 21, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Nigerian cooking gas, most costly in the world- Gas Association boss

cooking gas cylinders used to illustrate the story [Courtesy Vanguardngr]

Nigerian cooking gas, most costly in the world- Gas Association boss

byPremium Times
October 8, 2012
2 min read

Federal Government policies are stifling growth in natural gas sector

The current price at which Liquefied Petroleum Gas, LPG, also known as domestic cooking gas, is sold in Nigeria is the highest in the world, the President of the Nigerian Liquefied Petroleum Gas, LPG, Association, Auwalu Ilu, has said.

Mr. Ilu who said this in Lagos, on Monday, blamed government policies for the high prices of cooking gas.

“In the last three months, the price of a 12.5 kg cylinder of the gas has soared to over N3, 000 from the previous average of between N2, 000 and N2, 400 per cylinder. At over N3, 000 per 12.5kg cylinder, the price of cooking gas in Nigeria is the highest in the world,” he said.

He said some policies of the Federal Government are inconsistent with its drive to grow the country’s natural gas sector, and are limiting investments in cooking gas sub-sector.

Mr. Ilu said that investments in the domestic cooking gas sub-sector, would witness radical growth if the Federal Government stopped the Value Added Tax currently imposed on all imported raw materials used for LPG cylinders.

According to Mr. Ilu, the immediate overhaul of the tax regime in the sector would promote mass usage of the product. He said that duty-free regime on the LPG value chain would enhance the growth of the country’s cooking gas market.

He identified the initial cost of investment in cylinders, and the cheap alternative sources of fuel, such as firewood and saw dust, as major impediments limiting total acceptance of cooking gas in most Nigerian homes. He also faulted the pricing mechanism of cooking gas in the country as well as the verification policy of the Standards Organisation of Nigeria; saying, if reviewed, the sector would experience unprecedented growth.

Drawing a parallel between the crisis in gas supply and its high cost to government policies, Mr. Ilu expressed fears that the country’s gas industry would stagnate under the existing regime, adding that the epileptic state of Nigeria’s four refineries has marred efforts at producing the product domestically.

“There is also the absence of incentives to encourage investment in key infrastructure to boost local production and sales of the product to consumers,” he said.

“The absence of a waiver on import duty and VAT on locally sourced LPG is crippling the business.

“The Federal Government has refused to be very categorical on whether the LPG is “non-VAT-able”, whether the gas is imported, or is sourced locally,” he added.

(NAN)

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

CITIZEN-FM AD


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: Why women cheat: what every Nigerian man should know







PT Mag Campaign AD

Previous Post

CBN’s lending rate strangling private sector

Next Post

EFCC to arraign four suspects in Abuja over petrol subsidy scam

Premium Times

Premium Times

More News

Naira and Dollars

Naira gains but black market decline continues

May 20, 2022
Innoson Group of Companies

Why we’re launching tricycle production in Nigeria — Innoson

May 20, 2022
Basil Omiyi

Seplat Energy appoints Omiyi to replace Orjiakor as chairman

May 19, 2022
MTN Nigeria’s payment service bank subsidiary MoMo PSB starts operation

MTN Nigeria’s payment service bank subsidiary MoMo PSB starts operation

May 19, 2022
Airtel office

Airtel launches Nigeria payment service bank unit SmartCash PSB

May 19, 2022
TotalEnergies

TotalEnergies launches sale of stake in Nigerian joint venture

May 19, 2022
Next Post
Two in EFCC net for accessing DSTV signals illegally

EFCC to arraign four suspects in Abuja over petrol subsidy scam

Market operators optimistic about new listings rules

Funds movement behind capital market stability, says operators

Read All Comment

Search

AUN-PT Ad





Transport-Technology


Stanbic Ad


Access Bank Ad





Glo Ad


Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,842,622 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert

ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • Dubawa
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.