President Bola Tinubu has convened an emergency meeting with the Nigeria Police Force, the Department of State Services (DSS), and the Economic and Financial Crimes Commission (EFCC) to tackle the soaring cost of cooking gas in Nigeria. The meeting, reported by Nairametrics, focuses on allegations of hoarding and diversion of liquefied petroleum gas (LPG) to neighboring countries, which have contributed to sharp price increases across the country.
Price Surge and Shortages Since Late 2025
Nigerians have faced recurring shortages and steep price hikes since late 2025. According to reports, LPG prices rose from approximately N1,000 per kilogram in January 2026 to between N1,500 and N1,700 per kilogram by May. By June, prices in some regions climbed to between N2,000 and N2,500 per kilogram, placing immense strain on households and businesses.
Government Response to Hoarding and Diversion
The emergency meeting aims to curb the hoarding of cooking gas and its illegal diversion to neighboring countries, which exacerbates domestic shortages. A statement from the Federal Government confirmed: “FG has called an emergency meeting with the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC) and the Nigeria Police Force, to tackle cooking gas hoarding and diversion to neighbouring countries amid rising prices.”
Public Reactions and Concerns
Nigerians have expressed mixed reactions to the presidential intervention. Kayode Suberu highlighted the exorbitant cost in his area: “I bought mine yesterday, 12.5Kg @ 23,750, which is 1,900/ per kg. That's the highest I've ever bought this commodity. I'm still reeling from that, @officialABAT, @NGRPresident. Please do something about it.”
Agbado Crossing criticized the government’s approach, stating: “Everything must be by the force. Simply using incentives/disincentives through regulations is beyond their scope. What a dumb and incompetent leadership we have.”
Onakoyatobi linked the price surge to the naira’s depreciation: “This issue boils down to how our naira is less valuable if we have a strong naira nobody will export stuff to Benin or Togo. It is an automatic solution to increase the value of the naira. We are experiencing the same with layers, pullet and banning can't work more money for customs officials.”
Dr Retz commended the president’s move: “Nigeria needs to deliberately develop and support national business champions whose success is tied to Nigeria's success. Bola, you have my number.”
Femiiyawo lamented the local price: “I called my neighbour to ask the LPG price, she say don reach 1500 per KG. FG dey call EFCC for meeting. Who will arrest the naira?”
Broader Economic Implications
The cooking gas crisis reflects broader economic challenges, including currency devaluation and supply chain disruptions. Analysts note that without addressing the underlying value of the naira, enforcement measures alone may not stabilize prices. The meeting signals the government’s intent to use security agencies to enforce regulations, but critics argue that incentives and market-based solutions are more effective.
