The President of Association of Gas Marketers of Nigeria, Mr Oladapo Olatunbosun has attribributed the rising cost of cooking gas in the country to the activities of profiteers in the supply chain
Olatunbosun made the remark during an investigative hearing on the rising cost of cooking gas and diesel, at the house of representatives.
He also blamed the lapses by the regulator of the industry on the current crisis and noted that the nation’s produces the products significantly.
According to him, the Nigeria Liquefied Natural Gas NLNG had sold the cooking gas product to offtakers at a very concessionary rate.
The Group Managing Director of the NNPC Mallam Mele Kyari said the solution to the challenge is to restore crude oil production capacity of the country.
The Chairman House of Representatives Committee on Petroleum Resources (Downstream) Mr Mahmud Gaya, explained that the Investigative hearing was organized to find solutions to the astronomical increase in the price of the commodities.
Mr Gaya, noted that deregulation of the petroleum sector by the government would lead to a positive outcome.