NNPC boss blames cooking gas price hike on PENGASSAN strike

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mr. Bayo Ojulari, has attributed the recent spike in cooking gas prices to the temporary disruption caused by the strike of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN)

Speaking to State House correspondents after meeting President Bola Tinubu at the Presidential Villa in Abuja on Sunday, Ojulari explained that the industrial action halted gas loading and distribution for several days, leading to an artificial surge in prices.

“The increase you saw was relatively artificial because during the strike, loading and movement were delayed by about two to three days,” he said. “Once distribution slows down, the effect is immediate, but as things normalise, prices will gradually adjust.”

He further accused some retailers of exploiting the situation to hike prices. “As you know, some people take advantage of such delays. Those who had stock decided to increase prices,” he noted.

Ojulari assured Nigerians that the situation was under control, adding that as supply stabilises, prices would soon return to normal. “Now that everything is back to normal, I expect prices to drop to their previous levels,” he said.

The cooking gas price surge came after PENGASSAN embarked on a nationwide strike to protest the dismissal of Nigerian workers at the Dangote Refinery. The strike, which disrupted fuel and gas operations across the country, was suspended on October 1 following government intervention.

Negotiations later led to an agreement with the Dangote Group to reinstate the affected workers, allowing normal operations to resume and easing the supply chain pressure that had driven up gas prices.

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