There are indications that gas prices will further rise and Nigerians may pay more as marketers have hinted that the high exchange rate of dollar to naira is having a negative impact on importation.
National Operations Controller, the Independent Petroleum Marketers Association of Nigeria, IPMAN, Mike Osatuyi, in a chat with correspondents on Sunday, said independent marketers sourced dollars for importation from the black market, hence, gas price would continue to increase until naira strengthens at the exchange market.
According to sources close to the matter, the drop in output was majorly due to the high-leveled theft as well as oil and gas pipeline vandalism which had left NLNG operating at 60 per cent capacity.
