NNPC has attributed the recent hike in cooking gas prices to disruptions caused by the PENGASSAN strike.
CEO Bayo Ojulari said normal supply has resumed and prices will soon stabilize nationwide.
The Nigerian National Petroleum Company Limited (NNPC) has explained that the recent surge in the price of cooking gas across the country was caused by a temporary disruption in loading and distribution activities during the strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
The Group Chief Executive Officer of NNPC, Mr. Bayo Ojulari, made this known on Sunday after a meeting with President Bola Tinubu.
Ojulari stated that the industrial action, which lasted for several days, created delays in product movement and distribution, leading to a short-term supply gap. According to him, the situation caused an “artificial” spike in prices across major cities.
“The increase you saw was relatively artificial because, during the strike, loading and distribution were delayed by about two or three days. That disruption caused the temporary rise in prices,” he said. “As things return to normal, it will take a little time for full distribution to be restored.”
The PENGASSAN strike was launched in protest against the dismissal of Nigerian workers at the Dangote Refinery. It was, however, suspended on October 1 following the intervention of the federal government.
Ojulari accused some marketers of taking advantage of the brief supply shortage to inflate prices, a practice he described as exploitative.
“In Nigeria, people often take opportunities like this. Those who had reserves during the strike increased prices to make extra profit,” he said. “But now that operations have resumed, I expect prices to return to their previous levels.”
The NNPC boss added that the situation has begun to stabilize following the Dangote Group’s agreement to reinstate affected staff and resume full operations. He assured Nigerians that as supply chains continue to normalize, the price of cooking gas will drop in the coming weeks.
