Group Managing Director NNPC attributes high price of LPG to rising price of crude oil
Written by News Room on December 14, 2021
Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has attributed the high price of Liquefied Petroleum Gas (LPG) to the rising price of crude oil and its derivatives at the world market.
Kyari stated this at the inauguration of the Emadeb Energy Services Limited’s 120MT LPG Storage and Bottling Plant in Abuja.
He, however, assured Nigerians that the NNPC Limited was working round the clock to boost the supply of LPG to ensure a crash of the price.
He commended Emadeb Energy Services Limited for building the LPG plant in Abuja, explaining that the project aligned with one of the steps the Federal Government had taken to provide gas for its citizenry.
Chief Executive Officer of Emadeb Energy Services Ltd, Mr Debo Olujimi, said that although the capacity of the plant was currently 120MT, plans were afoot to expand it to 240MT in the next 18 months.
He described the business of gas infrastructure as capital intensive, and urged the federal government to encourage private investors to get value for their money.