NNPC Boss Blames PENGASSAN Strike For Surge In Cooking Gas Prices

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, has attributed the recent spike in the price of cooking gas to the industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Ojulari, who spoke to journalists after meeting with President Bola Tinubu at the Presidential Villa in Abuja on Sunday, said the strike temporarily disrupted loading and distribution, leading to supply shortages and an artificial price surge.

“The increase you saw was relatively artificial because during the strike, loading and movements were delayed for about two to three days,” he explained. “That delay affected distribution, and as the system normalises, prices are expected to ease gradually.”

He also noted that some gas retailers took advantage of the situation to hike prices, exploiting the temporary scarcity. “In Nigeria, people take opportunities. With that short delay, some dealers who had stock raised prices unnecessarily,” Ojulari added.

The NNPC boss assured Nigerians that normalcy would soon return to the market, saying, “Now that operations have resumed, prices should drop back to their previous levels.”

The nationwide strike by PENGASSAN, triggered by the sacking of some Nigerian workers at the Dangote Refinery, had disrupted fuel and gas supply chains. The industrial action was, however, suspended on October 1 after the intervention of the federal government.

Following negotiations, the Dangote Group agreed to reinstate the affected workers, paving the way for normal operations and the anticipated stabilisation of cooking gas prices across the country.