Home Latest Insights | News Nigeria’s Suspension of Liquefied Petroleum Gas (LPG) Exports is Good Policy

Nigeria’s Suspension of Liquefied Petroleum Gas (LPG) Exports is Good Policy

Nigeria’s Suspension of Liquefied Petroleum Gas (LPG) Exports is Good Policy

Good policy and it is commendable: “The Federal Government of Nigeria has taken decisive action to address the mounting challenges faced by consumers grappling with soaring cooking gas prices…the government revealed its immediate suspension of Liquefied Petroleum Gas (LPG) exports.”

This shows that even though we need US dollars, we as a people must exist first. Recall that many companies and homes are shifting to gas as prices of diesel and petrol move against gravity, triggering increases in the price of cooking gas. By this decision,  the price of cooking gas is expected to come down, even though the government may lose revenue (essentially, this is an energy subsidy when you look at the big picture as without the removal of subsidies on petrol, this would not have been necessary).

In Ugwunta Ovim, if you are hungry, go to Agbongele. Anything you see there, pluck and eat, but never take anything home or resell. The village put that ordinance to ensure there is a mechanism in place to ensure people do not go hungry. And to sustain it, people go and plant things in Agbongele, despite the knowledge that there is no personal economic benefit.

Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.

Tekedia AI in Business Masterclass opens registrations here.

Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.

Indeed, life is not about money or piling US dollars; Nigeria has demonstrated the spirit evident in Agbongele. #salute

Nigerian Government Suspends LPG Exports to Tackle Soaring Cooking Gas Prices


---

Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.

No posts to display

Post Comment

Please enter your comment!
Please enter your name here