For the second quarter of 2018 alone, 165.71 million litres of Liquefied Petroleum Gas (LPG) were imported into the country, according to the National Bureau of Statistics (NBS).
April recorded the highest volumes of LPG (otherwise called cooking gas) imported into the country at 59.89 million litres.
Alas, Nigeria possesses the largest natural gas reserves in the continent. Although the country is ranked ninth in proven gas reserve with an estimated 192 trillion cubic feet, Nigeria, however, is ranked the 28th gas producer in the world. Unfortunately, rising prices of the product had also continued to hit consumers.
Nigerian consumers have continued to groan as the product aims for the roofs amid the country’s huge reserves. Also, investors in the business are also decrying the diminishing business opportunities in the LPG space.
Some members of the National Association of Liquefied Petroleum Gas Marketers (NALPGAM) and Liquefied Petroleum Gas Retailers, a branch of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), have also expressed worry over the state of the industry, which they described as bothersome.
They maintained that the supply chain of the product was troubled; hence, the shoot up in prices, saying there is the need for the country to get the planning and strategy segment of the market right as well as its infrastructural base.