In a proactive move aimed at stabilizing prices and ensuring consistent supply, the Nigeria Liquefied Natural Gas (NLNG) has successfully delivered three significant shipments of Liquefied Petroleum Gas (LPG) to the local market throughout December. Andy Odeh, NLNG's General Manager of External Relations and Sustainable Development, emphasized that these deliveries play a pivotal role in upholding a steady and reliable LPG supply to effectively meet the market's demands.
Highlighting NLNG's proactive stance during the festive December period, Odeh stressed the company's meticulous efforts to maintain an ample supply throughout the holiday season. Acknowledging influential factors, he attributed the decline in LPG prices partly to the uplifting news of Value Added Tax (VAT) removal on imports and a natural slowdown in demand during the holiday period.
Crucially, Odeh clarified NLNG's steadfast adherence to the West Africa index price for their LPG sales, affirming, "There is no change in the applicable price index." Reaffirming their commitment to consistency, he reiterated that NLNG's pricing foundation remains rooted in the West Africa index.
In a resolute pledge to meet the country's energy needs, Odeh emphasized NLNG's unwavering commitment to supplying 100% of its LPG to the domestic market. This unwavering dedication underscores NLNG's role as a dependable and committed contributor to Nigeria's energy stability and consumer welfare.
Our December survey on LPG prices in Nigeria revealed a significant 7.10% decrease, indicative of the effectiveness of NLNG's efforts. This notable decline speaks to the impact of their initiatives in stabilizing the market. What are your thoughts on this? Feel free to share your comments below.