Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Rabiu Abdullahi Umar, had disclosed that a gas tariff regulation is underway, adding that the agency would unveil a proper pricing framework at its next meeting.

Umar stated this, Monday, in Abuja during a stakeholders’ meeting convened to address the rising cost of liquefied natural gas (LPG), also known as cooking gas.

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Umar said the Petroleum Industry Act empowers the NMDPRA to ensure fair and cost-reflective pricing in the sector.

“We also intend to use technology. I heard the comment of technology in terms of tracking what is going on. Tariff regulation is in the pipeline and I believe by the time we have our next meeting we will be coming up with a proper framework in terms of pricing.

NMDPRA boss further disclosed that the authority has commenced audits and enforcement actions aimed at increasing the number of terminal operators that can purchase products directly from producers.

The regulator added that recent interventions have improved LPG stock sufficiency from 11 days to 22 days.

As of June 21, Nigeria’s LPG stock stood at 85.87 million kilograms, while average daily supply increased to 5,040 metric tonnes in June from 4,262 metric tonnes recorded in May.

The authority said it is also working to improve foreign exchange access for imports, deploy technology-driven product tracking systems and expand gas infrastructure through the Midstream and Downstream Gas Infrastructure Fund (MDGIF).