Forex Scarcity adversely affecting Cooking Gas(LPG) Supply in the country

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• Author: Muyiwa Ige(LPG Stakeholder and Consultant)

As the scarcity of forex bites harder in the country, importers of goods, including LPG marketers that import Cooking Gas to augment the in-country supplies from Nigeria Liquified Natural Gas Company, Kwale Hydrocarbon, NNPC Oredo and other Upstream LPG Production Companies, are finding it increasingly difficult to access forex to bring in the product from overseas.

LPG industry giants such as Nipco, Navgas, Gasland, AA Rano, Rainoil, Techno Oil, Prudent Energy, Shafa Energy etc., which regularly need to source for huge amounts of US Dollars to import cooking gas from overseas to bridge the supply gap in the country, now undergo a whole lot of stress to source for the required forex to enable them bring in the products.

The long duration and hardship involved in sourcing for the forex needed to import LPG is majorly responsible for the partial scarcity of cooking gas being curently experienced in the country.

If the forex scarcity persists into the harmattan period when the demand for LPG surges globally, a full blown scarcity of the product may be inevitable in the country.