THE Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has blamed the recent nationwide scarcity of cooking gas and the accompanying price hike on the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
Speaking with State House correspondents yesterday after a meeting with President Bola Tinubu, Ojulari explained that the industrial action, which lasted several days, disrupted loading and distribution operations across the country, resulting in what he described as an “artificial” increase in prices.
“The increase you saw was relatively artificial because, during the strike, movements and loading were delayed by about two or three days,” Ojulari said. “As things return to normal, it takes some time for the distribution network to stabilise.”
He noted that while the disruption was temporary, some retailers exploited the situation by inflating prices.
“In Nigeria, people take opportunities. With that delay, some of those who had existing reserves raised their prices,” he added.
Ojulari assured Nigerians that normal supply has resumed and that prices are expected to stabilise in the coming weeks.
“My expectation is that now that things are back to normal, prices should return to what they were before the strike,” he said.
Cooking gas prices have risen sharply across major Nigerian cities, with residents in Lagos reporting costs between ₦2,500 and ₦3,000 per kilogramme.
Many gas plants and filling stations have reportedly run out of stock, leaving only roadside vendors with limited supplies selling at inflated rates.
The strike, initiated by PENGASSAN over the alleged dismissal of Nigerian workers by the Dangote Refinery, was called off on October 1 following the intervention of the Federal Government.
Ojulari’s comments come amid growing public concern over the cost of essential commodities, including gas, which has seen steep increases in recent months due to market volatility and supply disruptions.