We Have No Control Over The Price Of Cooking Gas

55

The Federal Government, yesterday, declared it has no control over rising prices of cooking gas in the country. This came as President Muhammadu Buhari expressed concern over sundry developments, especially as the global market determines gas prices. Buhari has also directed Minister of State for Petroleum Resources, Timipre Sylva, to proceed to Nembe, Bayelsa State, to investigate the level of damage from the recent oil spill in the area. Sylva made the disclosure while fielding questions from newsmen at the Presidential Villa, Abuja. The Minister said he was at the State House to introduce to the President the CEO, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Faruk Ahmed, and the CEO, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe. Explaining what was responsible for the spike in the prices of cooking gas and what the authorities were doing to address the situation, Sylva said the government has no control over the price increase and cannot subsidise the product because it is fully deregulated While stressing that gas prices are determined at the international market, the minister said government is doing everything possible to bring down the price, especially during the Yuletide. He said: “We must understand that cooking gas is not subsidised. It is already a deregulated commodity. So, the price of cooking gas is not determined by government or by anybody in the industry. In fact, gas prices are determined internationally.” “And you all are aware that in Europe, today, gas prices have gone up. There was even crisis in Europe relating to gas prices. So, the pricing of gas internationally affects also the price of gas in the country. “These are the issues of balancing that the midstream and downstream regulatory authority are handling. And I want to assure you that we are quite concerned. Mr. President also is very concerned. He is aware that the price of gas is high in the market, and we’re doing everything trying to see how we can bring down the price of gas especially as we approached the Yuletide.”

NB: Stories are shared by community members. The article does NOT represent the official view of NaijaWorld and the author is SOLELY RESPONSIBLE for this article
Comments

Use The App To Win N1m
Related Stories
thumbnail
Mr Dada Olusegun: The Best Man For The Job
38 m
thumbnail
OPINION: Christians Are To Blame For The Insecurity In Nigeria
1 h
thumbnail
NCAA Approves Flights To Anambra Int'l Airport
1 h
thumbnail
Gov Zulum Of Borno Clears 12 Billion Naira Pension Arrears Of Retired Workers.
1 h
thumbnail
Tinubu: I Will Correct The Wrongs In The Country If Given The Chance.
3 h
thumbnail
Sanwo-olu Commissions Nigeria's Largest Student Arcade In LASU
3 h
thumbnail
Fake Lawyer Arrested During Cross Examination After 10 Years Of Practice
3 h
thumbnail
Race For 2023: Wike Must Be Caged
4 h
thumbnail
APC Chieftain, Odunowo, Backs Tinubu's Presidential Bid
5 h
thumbnail
Bishop T.D Jakes In Akwa Ibom State For Christmas Festival
37 m
thumbnail
PDP National Secretary, NWC Members Visit Orji Kalu
1 h
thumbnail
Subsidy Removal:innoson To Produce Alternative Cars On Nnpc Order
7 h
thumbnail
Matawalle Inspects Ongoing Construction Work At Gusau Five Star Hotel
8 h
thumbnail
EFCC Arrests 18 Suspected Illegal Oil Bunkerers In Port Harcourt
10 h
thumbnail
Endsars White Paper: It’s Govt Magic — Rinu; There Was No Massacre, Alabi Slams
2 h
thumbnail
Here’s Why You Can’t Sue The President, Vice President, Governors In Nigeria
3 h
thumbnail
PDP Woos Orji Kalu With Presidential Ticket
6 h
thumbnail
ISWAP Abducts Borno Government Officials
12 h
thumbnail
External Reserves Drop By $610m In November As CBN Battles To Save Naira
11 h
thumbnail
Sen Enyinnaya Abaribe Speaks On The Unity Of Nigeria
17 h
Related Stories
thumbnail
Mr Dada Olusegun: The Best Man For The Job
38 m
thumbnail
OPINION: Christians Are To Blame For The Insecurity In Nigeria
1 h
thumbnail
NCAA Approves Flights To Anambra Int'l Airport
1 h
thumbnail
Gov Zulum Of Borno Clears 12 Billion Naira Pension Arrears Of Retired Workers.
1 h
thumbnail
Tinubu: I Will Correct The Wrongs In The Country If Given The Chance.
3 h
thumbnail
Sanwo-olu Commissions Nigeria's Largest Student Arcade In LASU
3 h
thumbnail
Fake Lawyer Arrested During Cross Examination After 10 Years Of Practice
3 h
thumbnail
Race For 2023: Wike Must Be Caged
4 h
thumbnail
APC Chieftain, Odunowo, Backs Tinubu's Presidential Bid
5 h
thumbnail
Bishop T.D Jakes In Akwa Ibom State For Christmas Festival
37 m
thumbnail
PDP National Secretary, NWC Members Visit Orji Kalu
1 h
thumbnail
Subsidy Removal:innoson To Produce Alternative Cars On Nnpc Order
7 h
thumbnail
Matawalle Inspects Ongoing Construction Work At Gusau Five Star Hotel
8 h
thumbnail
EFCC Arrests 18 Suspected Illegal Oil Bunkerers In Port Harcourt
10 h
thumbnail
Endsars White Paper: It’s Govt Magic — Rinu; There Was No Massacre, Alabi Slams
2 h
thumbnail
Here’s Why You Can’t Sue The President, Vice President, Governors In Nigeria
3 h
thumbnail
PDP Woos Orji Kalu With Presidential Ticket
6 h
thumbnail
ISWAP Abducts Borno Government Officials
12 h
thumbnail
External Reserves Drop By $610m In November As CBN Battles To Save Naira
11 h
thumbnail
Sen Enyinnaya Abaribe Speaks On The Unity Of Nigeria
17 h