NNPC: PENGASSAN Strike Behind Temporary Cooking Gas Price Increase

The Nigerian National Petroleum Company (NNPC) Limited has attributed the recent spike in the price of liquefied petroleum gas (LPG), also known as cooking gas, to temporary disruptions caused by the strike action of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Speaking with journalists on Sunday after visiting President Bola Tinubu, NNPC’s Group Chief Executive Officer (GCEO), Bayo Ojulari, explained that the industrial action led to short-term delays in product loading and distribution nationwide, creating an artificial shortage.

“The increase you saw was relatively artificial because, during the strike, movement and loading were delayed for about two to three days,” Ojulari said. “That delay naturally impacted distribution, and as things gradually return to normal, it takes a little time for the system to stabilise.”

He added that some marketers and retailers with existing inventory took advantage of the situation by hiking prices, worsening the temporary surge.

“As you know, in Nigeria, people seize opportunities. With that delay, some of those who already had stock decided to raise prices,” he noted.

Ojulari assured Nigerians that the situation is temporary, expressing confidence that gas prices will soon return to pre-strike levels.

“My expectation is that now that things are back to normal, prices should return to what they were before the strike,” he stated.

He reaffirmed NNPC’s commitment to ensuring a stable supply and fair pricing of petroleum products across the country, adding that measures have been put in place to prevent future disruptions.

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