Cooking gas retailers in the country, under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), have warned the federal government of severe consequences of the continued rise in prices of the commodity.

According to the group, in a statement released, Sunday, if urgent and coordinated actions are not taken immediately, the current crisis could trigger broader consequences, including accelerated food inflation.

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The body also warned of a possible collapse of small-scale LPG retail businesses and its attendant job losses, reduced investor confidence, and a significant setback to Nigeria’s clean energy and climate commitments, if the situation is not addressed.

Findings by Oracle Intelligence show a steady rise in the street price of the commodity from between N1, 500 to as much as N1, 700 per kilogram depending on the location, across the country.

According to the association, the ‘worrisome situation’ is largely due to what it described as ‘erratic supply and hike in depot price,’ adding further that while prices have gone as high as N1,500/kg, retailers are forced to pay as much as N25, 200, 000 or N26, 200, 000 for a 20MT (metric tonne) of cooking gas, depending on location.

The statement by the association, therefore, drew the attention of the Federal Government, its agencies, importers, LPG producers, depot owners, consumers alike to the ‘pathetic’ situation whereby its members are forced to buy the commodity at an exorbitant price and sell to consumers at same.

“It is sad and rather very pathetic to inform the general public that the citizens of Nigeria have woken up to buy cooking gas, which should be a social item at a prohibitive cost of over N1,500 per kg, while the Marketers are made to pay as much as N25,200,000, or, depending on location, N26,200,000 for 20MT of cooking gas.

“We feel that if the situation is not immediately checked, the citizens may rise against the owners of gas filling stations.

“This sad situation has brought untold hardship to millions of Nigerian households, small businesses, food vendors, and low-income families who rely on LPG for daily cooking and livelihood.

“It is rather worrisome to state that this situation is seriously eroding the substantial progress made by the Government on the usage of Clean Energy in the country,” the group stated.