A comprehensive market survey conducted revealed that gas retailers have notably raised the cost of a 12.5kg cylinder from the approximately N10,000 range reported towards the conclusion of the preceding month, marking an alarming escalation in Lagos.

It was earlier reported that Olatunbosun Oladapo, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers, warned of a potential surge in the price of a 12.5kg cooking gas, projecting it could skyrocket to as high as N18,000 by December if the Federal Government failed to intervene and regulate the activities of terminal owners.

However, despite these cautionary advisories, Olatunbosun, in discussions with The PUNCH on Monday, expressed his concern that the government had not yet taken concrete measures to address the crisis.

He lamented, "Yes, the price has now escalated to N1,000 per kilogram, but the government has not yet intervened despite our meetings with the NMDPRA."

Olatunbosun further detailed the current logistics of gas retailers, revealing that they still purchase 20 metric tons of gas for a sum of N14 million at the depots. He highlighted the substantial rise in diesel prices, which has driven the cost of transporting gas from Lagos to the North to N1.7 million due to exorbitant diesel expenses.

He noted the potential ripple effects of such price hikes, stating, "If we sell here at N1,000 per 1kg, just imagine how much it would cost in the Middle East and North."

Olatunbosun's ultimate aspiration is for prices to decrease, aligning with the Federal Government's decade-long gas policy designed to render gas accessible and affordable to the average citizen.

In previous reports, The PUNCH had chronicled the actions of terminal owners who had elevated cooking gas prices from approximately N9 million to N10 million per 20 metric tons to an alarming N14 million. Olatunbosun had castigated these operators, attributing the surge to unjustifiably high foreign exchange rates, and he had raised concerns that a 12.5kg cylinder could potentially reach a staggering N18,000.

It is worth noting that spokespersons for gas terminal owners, including representatives from NavGas and Nipco Plc, did not respond to inquiries by The PUNCH.