The Federal Government has said it has no direct control over the rising prices of Liquefied Petroleum Gas, popularly called cooking gas, and cannot regulate it at will.
It, however, stated that it was making efforts to reduce the cost of the commodity and make it affordable for Nigerians ahead of the Yuletide.
The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this to State House correspondents on Tuesday after a meeting with President Muhammadu Buhari.
Speaking on the reasons for LPG price hike, the minister said: “Cooking gas is not subsidised. It is already a deregulated commodity. So, the price of cooking gas is not determined by the government or by everybody in the industry. Gas prices are determined internationally.
“And you all are aware that in Europe today, gas prices have gone up. There was even crisis in Europe relating to gas prices. The pricing of gas internationally now affects also the price of gas in the country.
“Apart from that, there are some issues around VAT charges on imported gas, and of course, taxes on imported gas, which we are handling. But of course, quite frankly, these taxes on imported gas, you must also juxtapose it with the local producers of gas.”