NPRA CEO identifies reason for rising cost of cooking gas

The newly appointed Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA) Mr Farouk Ahmed has identified poor investment in the gas sector over the years as the cause of the rising cost of cooking gas in the country.

Ahmed stated this on Monday during his inauguration as CEO of NPRA, alongside Mr. Gbenga Komolafe, who was also inaugurated as the CEO of the Nigeria Upstream Regulatory Commission (NURC).

According to Ahmed, the NPRA would urgently work with stakeholders to tackle the challenge of rising price of cooking gas.

Read also: Price of cooking gas increased by 3.52% in July – NBS

While attributing the hike in price to poor investment into the gas sector over the years, Ahmed insisted that with the abundance of gas, Nigeria should not struggle with gas supply.

On his part, the NURC boss, Komolafe said the Commission would seek to not just be a regulator for the upstream, but also a business enabler for the sector.

He said the agency would work to ensure that Nigeria meets its OPEC oil production quota and benefit maximally from the current rise in price of oil.

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