NNPC Blames Cooking Gas Price Spike on PENGASSAN Strike

NNPC Blames Cooking Gas Price Spike on PENGASSAN Strike

Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, has attributed the recent spike in liquefied petroleum gas (LPG) prices, commonly known as cooking gas, to the industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Speaking to journalists at the State House on Sunday following a courtesy visit to President Bola Tinubu, Ojulari explained that the strike disrupted logistics and delayed product loading and movement for several days, which contributed to the temporary price increase.

Market observations on Monday revealed significant price hikes across Lagos. In Amuwo Odofin, 12.5kg of LPG was sold for ₦26,000 (₦2,080 per kg), while in Iyana Ipaja, the same quantity reached ₦27,000 (₦2,200 per kg). In Abuja’s Dutse area, the price stood at ₦20,000 (₦1,600 per kg). This marks a 48.57% jump from the previous average of ₦17,500 for a 12.5kg cylinder.

Ojulari noted that some retailers and marketers with existing stock also raised their prices during the disruption, further amplifying the surge. However, he assured Nigerians that the situation would stabilize soon.

“The increase you saw was relatively artificial,” he said. “The strike caused a delay of about two to three days in loading and movement. As operations normalize, distribution will gradually be restored. Unfortunately, some individuals took advantage of the delay to hike prices.”

He expressed optimism that prices would return to pre-strike levels as supply chains recover.

PENGASSAN had suspended its nationwide strike on October 1, which was initiated in protest against the dismissal of Nigerian workers at the Dangote Refinery. Following federal government intervention, the Dangote Group agreed to redeploy the affected employees to other subsidiaries.