The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, has attributed the recent spike in the price of cooking gas to disruptions in loading and distribution caused by the strike action of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
Ojulari, who spoke with State House correspondents on Sunday after a meeting with President Bola Tinubu, explained that the industrial action temporarily halted operations, resulting in an “artificial” increase in prices across the market.
“The increase you saw was relatively artificial because, during the strike, movements and loading were delayed for about two to three days,” he said. “That short delay created supply gaps and led to temporary price adjustments. As operations resume and supply chains stabilize, prices are expected to return to normal levels.”
The PENGASSAN strike, which was triggered by the alleged dismissal of Nigerian workers at the Dangote Refinery, lasted several days before being suspended on October 1, following federal government intervention.
Ojulari further accused some retailers of taking advantage of the shortfall to hike prices beyond reasonable limits. “As you know, in Nigeria, people seize opportunities. Some marketers with existing stock increased their prices during the disruption,” he noted. “Now that normalcy is returning, prices should gradually revert to pre-strike levels.”
He added that the agreement reached between the Dangote Group and the federal government, including the redeployment of affected workers, had already started easing distribution challenges within the petroleum sector.
The NNPC boss assured Nigerians that the company remains committed to ensuring stable supply and affordability of cooking gas nationwide.
