From November 1, Nigeria will stop exporting locally produced Liquefied Petroleum Gas LPG, also known as cooking gas.

Minister of State Petroleum Resources, Ekperikpe Ekpo, who announced this during a meeting with stakeholders in Abuja, said the measure is to mitigate the price of the gas that has been soaring steadily.

On pricing framework, Ekpo said the Nigerian Midstream and Downstream Petroleum Regulatory Authority, will engage stakeholders to create a domestic LPG pricing framework within 90 days.

He added that within 12 months, facilities will be developed to blend, store and deliver Liquefied Petroleum Gas, ending exports until the market achieves sufficiency and price stability.