MARKETERS ACCUSED OF CREATING ARTIFICIAL LPG SCARCITY

Some Liquefied Petroleum Gas marketers have been accused of purchasing the product at cheaper prices and withholding supplies from the market, contributing to an artificial scarcity and higher cooking gas prices.

The allegation comes amid concerns over rising LPG prices and supply challenges affecting households and businesses across Nigeria.

Stakeholders said some marketers took advantage of lower-priced gas supplies by buying large quantities and holding them back from consumers in anticipation of higher market prices.

They argued that the practice could distort the market, create unnecessary shortages, and increase the financial burden on households that rely on LPG for cooking.

Industry operators said the situation highlights the need for stronger monitoring of the LPG supply chain to prevent hoarding and other practices that could undermine market stability.

They also called for improved transparency in the pricing and distribution of cooking gas, particularly as consumers continue to face higher household energy costs.

Experts noted that stable domestic LPG supply would be important for encouraging more Nigerians to shift from traditional cooking fuels and reducing pressure on household energy budgets.

They urged regulators and relevant government agencies to investigate reports of hoarding and take appropriate action where violations are established.

Stakeholders also called for policies that would encourage increased domestic production, storage capacity, and efficient distribution of LPG.

They said stronger competition and better market monitoring could help reduce supply disruptions and improve price stability for consumers.

The development comes as the government continues efforts to expand domestic gas utilisation and make cooking gas more accessible to Nigerian households.