Lucky Obukohwo, Reporting
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, has heaped the high cost of Liquefied Petroleum Gas (LPG) otherwise known as cooking gas at the door step of the recent industrial action embarked upon by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
He disclosed this after paying President Bola Tinubu a visit, saying that some retailers and marketers with existing stock also raised their prices, leading to the overall increase.
He was quick to add that things would soon return to normal.
“So the increase you saw was relatively artificial because for the period of the strike, what that meant was movements and loading were delayed by about two, three days.
“And because of that, you see that impact as things return back to normal. It takes some time for distribution to be fully restored.
“And of course, as you know, in Nigeria, people take the opportunity. With that delay, some of the people who have existing resources and reserves had to put up the price.
“My expectation is that now that things are back to normal, prices should return back to what they were before the strike,” Ojulari said.