Local production of LPG rises by 20m tons
Amid the high price of Liquefied Petroleum Gas (LPG) in Nigeria, the Federal Government has disclosed y that local production of the product rose sharply last month.
While there are waivers for LPG production equipment and zero Value Added Tax (VAT) for locally produced LPG, prices of the commodity increased by over 50 per cent.
But the government agency in charge of market regulation, the Petroleum Products Pricing Regulatory Agency (PPPRA), yesterday, stated that the gains of government policies in the sector resulted in enhanced local production.
Even as Nigeria boasts of over 206 trillion standard cubic feet of natural gas, local utilisation of the end products not only remains dismal but also above the reach of the masses.
Before September, importation had remained higher in consumption when compared with local production.
The General Manager, Corporate Services at PPPRA, Kimchi Apollo, said local production increased by over 11 million tons.