The Nigerian National Petroleum Company Limited (NNPCL) has explained that the recent cooking gas shortage in Nigeria was caused by temporary disruptions during the PENGASSAN strike.
Group Chief Executive Bayo Ojulari said the industrial action delayed loading operations and led to an “artificial” price hike.
“The increase you saw was relatively artificial because for the period of the strike, movements and loading were delayed by about two, three days,” Ojulari told State House correspondents on Sunday after meeting President Bola Tinubu.
He added, “As things return to normal, it takes some time for distribution to be fully restored.”
Ojulari noted that some traders exploited the shortfall to raise prices. He, however, assured Nigerians that gas prices would soon stabilize as supply chains normalize.
“As you know, in Nigeria, people take opportunity. With that delay, some who had reserves increased prices. My expectation is that now that things are back to normal, prices should return to what they were before the strike,” he said.
The cooking gas shortage in Nigeria has driven prices sharply higher in major cities. In Lagos, residents now pay between ₦2,500 and ₦3,000 per kilogram.
Many stations have run out of supply, leaving street vendors to sell at inflated rates.