Despite Gas Not Listed on Export Prohibition Act, Tinubu Suspends its Exportation
Mayowa DurosinmiFebruary 23, 20241 Mins read596 
In a bid to curb the rising prices of cooking gas, the Tinubu-led administration announced the immediate suspension of Liquefied Petroleum Gas (LPG) exports.
The Minister of Petroleum Resources, Ekperikpe Ekpo, announced the suspension of gas exportation during a meeting themed ‘Internal Stakeholders’ Workshop’ held in Abuja on Thursday.
According to him, the move is considered part of a strategic effort to boost the affordability of gas (LPG) within Nigeria’s market to alleviate the financial crisis plagued by its consumption due to surging prices.
There are ongoing discussions with critical stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as well as major operators like Mobil, Chevron, and Shell, he revealed.
This is following the surging prices yet imbalanced commodity prices of cooking gas in the market.
Meanwhile, such a move is not included in Nigeria’s Export Prohibition Act of 1989, which prohibits only the exportation of certain goods, including Maize, Beans, Rice, Yam, and Cassava tuber.
Read more: Obi Calls for Transparency on N1.1 Trillion Support to Governors, Urges Investment in Production
About The Author
Related Articles
As Africa’s Oldest French puppet Wins Another Term, 83 Ouattara Extends His Rule in Côte d’Ivoire.
In Abidjan, the mood was muted. On October 25, the people of...
At 92, Africa’s Oldest President Paul Biya Wins Eighth Term in Cameroon
Paul Biya, aged 92, has once again won Cameroon‘s presidency, marking his...
Four Dead, Dozens Arrested as Cameroon Awaits Election Results
A wave of unrest is sweeping Cameroon as the country stands on...
Tinubu Replaces Service Chiefs Following Rumours Of Coup, Reigniting Nepotism Claims
President Bola Tinubu has appointed General Olufemi Oluyede as the new Chief...