LPG price to crash as NLNG to spend N150m on refurbishment of jetties in Lagos

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The ex-depot price of Liquefied Petroleum Gas (LPG) popularly called cooking gas is set to crash by about 20% in the next few weeks due to the intervention of the Nigerian Liquefied Natural Gas (NLNG) Limited which plans to invest about N150 million towards jetty upgrades in Apapa, The Sun reports.

Managing Director of NLNG, Mr. Tony Attah, explained during a facility tour of some LPG plants in Lagos yesterday, that the dearth of infrastructure at jetties remained a factor responsible for skyrocketing prices of LPG.

Attah explained that the N150 million intervention was for the rehabilitation of three jetties in Apapa, including Petroleum Wharf Apapa (PWA), New Oil Jetty (NOJ) and Bulk Oil Platform (BOP).

He said the visit of the management of NLNG was to have first hand information on the state of facilities at the respective jetties and see ways of collaborating with investors to improve on supply to further crash prices.