Dangote’s Plan to Cut Cooking Gas Prices Sparks Monopoly Fears

Africa’s richest man, Aliko Dangote, has unveiled plans to slash the price of Liquefied Petroleum Gas (LPG), vowing to sell directly to consumers if existing distributors fail to bring down prices.

Speaking during a recent tour of the Dangote Refinery in Lekki, Lagos, the industrialist said the current LPG prices hovering between N1,000 and N1,300 per kilogram are unaffordable for many Nigerians who still rely on firewood and kerosene.

Dangote revealed that his refinery currently produces 22,000 tonnes of LPG daily and is ramping up supply to meet domestic demand. He also threatened to bypass marketers entirely if they resist price reductions.

However, industry players are raising red flags. Former Chairman of the LPG Downstream Group at the Lagos Chamber of Commerce and Industry, Godwin Okoduwa, warned against what he called a monopolistic approach. He urged collaboration, pointing to how the LPG sector grew from 70,000 metric tonnes in 2007 to over 1.3 million tonnes by 2022 through joint efforts with government and private partners.