Why price of cooking gas is rising — NPRA boss

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Minister of State, Petroleum Resources, Timipre Sylva

By Obas Esiedesa, ABUJA

Mr. Farouk Ahmed, the Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, NPRA, has attributed the rising cost of cooking gas to poor investment into the gas sector over the years.

Ahmed said this, on Monday, during his inauguration as CEO of NPRA, where Mr. Gbenga Komolafe was also inaugurated as the CEO of the Upstream Regulatory Commission.

Speaking to journalists after the inauguration, Mr. Komolafe said the Commission would seek to not just be a regulator for the upstream, but also a business enabler for the sector.

READ ALSO: Cooking gas price rises further, as local production surges by 23%

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

On his part, Mr. Ahmed disclosed that the NPRA would urgently work with stakeholders to tackle the challenge of rising price…



Source: Vanguard Newspaper