NNPCL Attributes Cooking Gas Scarcity, Price Hike to PENGASSAN Strike
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The Nigerian National Petroleum Company Limited (NNPCL) has blamed the recent scarcity and surge in cooking gas prices on the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
According to NNPCL’s Group Chief Executive Officer, Bayo Ojulari, the industrial action temporarily disrupted loading and distribution activities, leading to a shortfall in supply and an “artificial increase” in prices.
“The increase you saw was relatively artificial because for the period of the strike, movements and loading were delayed by about two, three days,” Ojulari told State House correspondents on Sunday, after a meeting with President Bola Tinubu”
“And because of that, you see that impact. As things return to normal, it takes some time for distribution to be fully restored,” he added.
Ojulari also accused opportunistic retailers of exploiting the shortfall to hike prices.
He, however, assured Nigerians that as supply chains stabilise, the cooking gas price is expected to ease in the coming weeks.
“As you know, in Nigeria, people take opportunities. With that delay, some of the people who had existing resources and reserves had to put up the price.”
“My expectation is that now that things are back to normal, prices should return to what they were before the strike,” the NNPCL CEO stated.
“Cooking gas prices have skyrocketed across Nigeria, with Lagos residents now paying between ₦2,500 and ₦3,000 per kilogramme, and in Ogun 1,700 as scarcity grips major cities.
Oil workers, under the aegis of PENGASSAN, began a strike action over the dismissal of Nigerian workers by the Dangote Refinery but suspended it on October 1 after the Federal Government’s intervention.
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