As the prices of Liquefied Petroleum Gas (cooking gas) rise by about 140 per cent in many locations across the country, marketers of the commodity are perfecting plans to massively import the product to make it more affordable and available.

Findings showed that cooking gas prices jumped from an average of N1,000 per kilogramme in January and February this year to as high as N2,400 a few days ago. Industry sources told our correspondent that the regulator is issuing licences for the importation of cooking gas.

This is also because local producers of LPG have been unable to meet domestic demands for gas, according to operators. For example, the sources stated that there is a decline in LPG supply from the Dangote Petroleum Refinery due to internal utilisation, not because the refinery exports, as is being speculated.

“The recent decline in LPG supply from the Dangote refinery, which has created a crisis in the domestic market, isn’t because of exports but is due to their internal utilisation for enhancing petroleum production capacity,” a source familiar with the development, who spoke in confidence due to the lack of authorisation to speak on the matter, stated.

The source further explained that this had to do with the refinery’s recent ramp-up to 700,000 barrels per day amid higher global fuel demand. Consequently, marketers were allowed to bring in enough LPG to end the current scarcity and crash the prices, which have risen from less than N1,000 earlier in the year to about N2,400 per kilogramme.

An official in the Nigerian Midstream and Downstream Petroleum Regulatory Authority, who also spoke in confidence, said, “The regulator is collaborating with the Nigerian National Petroleum Company Limited and other key stakeholders to further boost LPG availability in the local market.”

Speaking in an interview with our correspondent on Sunday, Louis Ibah, who is the spokesman for the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said marketers have committed to importing larger volumes of LPG.

“Marketers are stepping up their efforts and have committed to importing larger volumes of LPG, ensuring that supply meets demand in the weeks ahead for domestic consumers,” Ibah said.

Ibah assured Nigerians that the gas minister is addressing all issues concerning LPG availability. According to him, the minister has mandated the NMDPRA to work with stakeholders to resolve supply challenges and ensure uninterrupted gas availability for domestic use.

He added that the Dangote refinery had been urged to prioritise the supply of LPG to the local market. “Nigerians should rest assured that the Minister of State Petroleum Resources (Gas), Dr Ekperikpe Ekpo, is actively addressing all issues affecting the production, distribution and supply of LPG in the country.

“The minister has mandated the NMDPRA to work with stakeholders to resolve supply challenges and ensure uninterrupted availability of gas for domestic use. And there is good news as the management of the Dangote refinery has been urged to prioritise and allocate more LPG volumes for the domestic market.

“Marketers are also stepping up their efforts and have committed to importing larger volumes of LPG, ensuring that supply meets demand soon,” he said.

Speaking in an interview with our correspondent, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Edu Inyang, confirmed the development to our correspondent.

According to him, the depot owners are planning to ship in cooking gas to end the current scarcity in the country. He said the depot owners confirmed to him that they were planning to import LPG.

“The depot owners have confirmed to us that they are planning to import enough LPG,” he said in a chat with our correspondent on Monday.

Ibah, the gas minister’s aide, had earlier dismissed the claim that local gas producers were shipping out the product, saying the Federal Government’s restriction on LPG exports remains in place and is being enforced by the NMDPRA.

“The ban on exports of LPG announced by the Minister of State for Petroleum Resources (Gas), Dr Ekperikpe Ekpo, is still in place to stabilise prices and is strictly enforced by the NMDPRA,” Ibah told The PUNCH.

He emphasised that none of the local producers is allowed to export cooking gas, saying all resources are focused on making the product available for Nigerians. “It’s important to note that none of our producers are currently exporting the LPG meant for cooking in Nigeria, so all resources are focused on meeting our local needs,” he said.

The government’s position comes as concerns mount over soaring cooking gas prices and supply shortages across several parts of the country. Retailers and consumers have reported difficulties accessing supplies, while prices have continued to rise.

Aside from the rising cost of cooking gas, Nigerians said the product is also not available at retail outlets, forcing many to resort to charcoal and firewood for cooking.

Ibah told our correspondent on Monday that normalcy was returning as far as cooking gas supply is concerned. But retailers countered his claim, stating that they have yet to witness the normalcy, as the commodity was still scarce as of yesterday.

The persistent increase in LPG prices is occurring despite data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicating that local production from refineries and gas processing plants accounted for the bulk of Nigeria’s LPG supply between April 2025 and April 2026, significantly reducing dependence on imports.

However, the increased domestic production has yet to translate into lower prices for consumers, with cooking gas now selling at N2,400 per kilogramme in several locations.

The Nigerian Association of Liquefied Petroleum Gas Marketers had earlier warned of the scarcity and worsening hardship arising from erratic supply and rising costs.

The association said marketers were paying between N25.2m and N26.2m for 20 metric tonnes of LPG, saying, “We feel that if the situation is not immediately checked, the citizens may rise against the owners of gas filling stations,” the marketers had warned.

Nigeria’s Tin Can Island Port and Lagos Port Complex in Apapa have been ranked among the world’s top 20 most improved container ports over the past five years, according to the World Bank’s Container Port Performance Index 2025.

The World Bank, in the sixth edition of the CPPI, listed Tin Can Island Port Complex and Apapa Port Complex among the top 20 ports globally that recorded the most significant improvements in performance between 2020 and 2025.

The CPPI evaluates container port performance using indicators such as vessel turnaround time and operational efficiency based on global benchmarks. The report was compiled by the World Bank and S&P Global Market Intelligence.

According to the report, Tin Can Island Port ranked 10th globally among ports with the greatest improvement over the five-year period, while Lagos Port ranked 12th.

The Container Port Performance Index provides a data-driven assessment of global port efficiency by focusing on vessel time in port.

It enables comparisons across ports and over time, helping to identify improvements and operational challenges.

The latest ranking comes as Nigeria continues to record trade surpluses. The National Bureau of Statistics reported a trade surplus of N7.54tn in the first quarter of 2026.

Data from the report showed that Tin Can Island Port improved its CPPI score by 42 points, moving from -68 in 2020 to -26 in 2025. Lagos Port also recorded a 35-point improvement, rising from -61 in 2020 to -26 in 2025.

The performance placed Nigeria among a select group of countries that recorded significant progress in vessel turnaround times, port efficiency and cargo-handling operations during the review period.

Nigeria ranked ahead of several major ports in the global improvement rankings, including France’s Marseille Port, which placed 11th with a 39-point improvement; Türkiye’s Iskenderun Port, which ranked 13th with a 34-point increase; and India’s Jawaharlal Nehru Port, which placed 14th with a 32-point gain.

Peru’s Paita Port ranked 15th with 32 points, while China’s Keelung and Fuzhou ports occupied 16th and 17th positions respectively, each recording 27 points.

Responding to the report, the Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, said, “With the investor-friendliness of President Bola Tinubu providing the gravitas needed for increased investment to implement our port infrastructure and equipment modernisation drive coupled with the unflinching support from the Minister of Marine & Blue Economy, Adegboyega Oyetola, we have all it takes to advance the fortunes of trade and boost the national economy

The Nigerian National Petroleum Company Limited has commenced an early retirement scheme that is already attracting significant interest from employees, with officials confirming that more than 70 per cent of eligible staff have indicated willingness to participate in the voluntary exit arrangement.

The initiative, structured under the Accelerated Exit Scheme and the Voluntary Exit Scheme, is being positioned by the company as a strategic and non-coercive reform designed to align its workforce with long-term transformation goals, improve efficiency and create space for younger professionals.

The AES targets employees with up to one year left before retirement in 2026, while the VES covers staff due for statutory retirement in 2027, as well as SS1-grade employees with about two to five years remaining before retirement between 2028 and 2030.

Officials of the national oil company, who spoke with The PUNCH on condition of anonymity on Sunday because they were not authorised to speak publicly on the retirement scheme, insisted that the initiative is entirely voluntary and designed to benefit both employees and the organisation.

They said no employee was being compelled to leave the organisation. One of the officials disclosed that more than 70 per cent of workers eligible for the scheme had already indicated interest in taking advantage of the programme.

The clarification comes amid concerns in some quarters over the rationale behind the initiative and speculation that some categories of staff may be under pressure to exit the company.

The PUNCH reports that last month, an internal communication from the Group Chief Executive Officer, Bashir Ojulari, to staff explained that the restructuring is part of a broader organisational recalibration currently underway at the national oil company.

“Over the past year, we began an important recalibration of our organisation as part of our broader transformation,” Ojulari said. “As we build momentum on this journey, it is essential that our workforce continues to evolve in line with the future we are building.”

He further clarified that the AES targets employees due for retirement by 2026, while the VES covers staff scheduled for statutory retirement in 2027, as well as employees on grade level SS1 expected to retire between 2028 and 2030.

“These programmes form part of our deliberate efforts to responsibly manage workforce transitions while creating the right conditions for organisational renewal and long-term sustainability,” he noted.

However, a senior NNPC official familiar with the scheme explained that participation is entirely optional, stressing that no employee is being compelled to leave the organisation. The source maintained that the scheme was neither targeted at specific individuals nor unprecedented within the organisation.

According to the official, the programme was introduced for two reasons: to provide workers approaching retirement with an opportunity to leave the system earlier under more favourable terms while creating room for fresh talent to join the company.

“I am sure you know what the scheme is about. There are staff of the NNPC who are due to retire in five years or three years. There are also people retiring by the end of this year. The company opened a scheme for them to take early retirement, and this happens everywhere,” the official said.

“It is voluntary. If a worker decides to leave early, there is a package he or she gets. If the person decides to leave now, there is a package for it. Nobody is being forced to leave.”

Another source explained that the initiative was conceived as a win-win arrangement, offering financial incentives to employees while supporting the company’s workforce renewal strategy.

“The real reason why it was rolled out is for the benefit of the individual and also for the benefit of the organisation,” the official stated

“For the individual who decides to leave early, there is a more enhanced package instead of waiting to retire when the person clocks 60 years, which is the official retirement age, or years of service, whichever comes first. So, if somebody feels that they want to move on and do something else with their lives, they can take advantage of the package and leave on better terms.”

The official stressed that employees eligible for the programme retained the right to decline the offer without any consequences. “Some who are due to retire at the end of this year or in two years can say that they are not interested. People are not being forced to leave. It is voluntary,” the source emphasised.

The NNPC official also linked the programme to the company’s broader efforts to rejuvenate its workforce and ensure continuity through strategic recruitment. According to the source, the company recruited more than 1,000 employees last year, and the retirement initiative would further create opportunities for young professionals to grow within the organisation.

“For the organisation, it opens up space to bring in younger people to take up roles. Recall that last year, the company employed over 1,000 persons who are now in the system,” the official said. “So, it helps people who want to take early retirement to do so and take up something different with their lives.”

Providing insight into the level of acceptance of the initiative among eligible staff, the source said initial indications suggested that the programme had recorded significant success.

“As of today, among those who qualify for this scheme and those within that space, what we have seen is that more than 70 per cent of persons who are eligible have indicated interest in taking early retirement,” the official disclosed.

“So, if you have 70 per cent who have indicated interest, as I speak to you, it means many people just want to go and do something different with their lives. If we were having 15 per cent or less, you can say people do not want to leave. But the scheme is currently a success.”

The source dismissed suggestions that the programme was targeted at specific individuals or designed to compel employees to vacate their positions. “It is not about individuals being targeted. It is not about individuals at all, but a scheme. It is also not the first time it is happening in NNPC. Some organisations do it every three years,” the official said.

“If you do not want to go, it is fine. This scheme has been rolled out for people to take advantage of. It is mutually beneficial to the business and individuals.”

The official added that beyond opening the door for younger employees, the programme would also enable the company to bring in specialised skills where necessary. “For the organisation, it just opens up space to bring in younger people and, in other cases, experienced hires, but in most cases, younger people, and ventilate the system in a positive manner,” the source added.

NNPC, which transitioned into a limited liability company under the Petroleum Industry Act, has in recent years pursued various reforms aimed at improving operational efficiency and positioning the national oil company to compete effectively with its international counterparts.

The company has also embarked on workforce optimisation initiatives alongside efforts to strengthen capacity, attract new talent and improve productivity as it navigates the evolving dynamics of the global energy industry.

The latest voluntary retirement programme appears to align with that broader transformation agenda, with management insisting that participation remains a matter of personal choice rather than institutional compulsion.