NNPC blames PENGASSAN strike for cooking gas price hike

Bayo Ojulari, the Chief Executive of the Nigerian National Petroleum Company (NNPC), has blamed the recent strike by PENGASSAN for the current hike in the price of cooking gas. Ojulari said this on Sunday while speaking to State House correspondents after a visit to the president. He said the price hike was caused by the temporary disruption of operations during the strike by PENGASSAN. The NNPC boss said the strike adversely affected loading and distribution of gas for several days which led to the artificial scarcity and rise in the price.
He described the price hike as artificial, adding that he expected the price to have normalized long after the strike. Ojulari said the retailers took advantage of strike and the temporary disruption in the supply chain to increase their price. “But as you know, Nigerians take advantage of any opportunity,” he said, adding that some retailers, who had the product in stock, took the opportunity to increase their price. In Lagos, the price of 12.5 kg cylinder gas has risen to about N26,000.