Inflation
OpenLife Nigeria reports that the Association of Table Water Producers, ATWP, has said that a sachet of water could soon sell for N100.
This association stated this on Wednesday during a press conference where it lamented the rising cost of production which is “crippling their business and forcing them into huge debt.”.
They attributed the reason to the upscale cost of living and inflation.
A sachet of water is being sold for N50 in Awka, the Anambra State capital, Southeast Nigeria and some other places.
In many cities, water producers sell a bag of sachet water for N400 while retailers sell a bag of sachet water for between N500 and N550.
Association of Table Water Producers Says Sachet Water Might Get Sold For Fifty Naira Per Sachet pic.twitter.com/HGrRkRW8ok
— TVC News (@tvcnewsng) February 28, 2024
During the press conference, one of the leaders of the association said, “Sachet water is going for N50 and if care is not taken, it will go for N100.
At our point, there is nothing we can do. The cost of production as of December last year, we were buying materials for N1,100 per kg but now, that same kg of nylon is between N3,600 and N3,700.
“We are no longer costing the cost of treatment. We don’t put this into our cost.
“What we do now is just the materials and the frequency with which the nylon producers increase the price, and they don’t increase it with maybe N20,000 or N30,000.
“They go as far as N550,000 in one increment, and this increment can come three times within one week.”
She said, “It is difficult for us to continue to increase the price of our water. That is where our fear is coming from, because if an ordinary Nigerian cannot afford sachet water, I don’t know where we are going to.
“We are dying. Every water producer is more or less funding the business from outside sources or borrowing money. Many banks don’t give water producers loans because they know that we might not be able to repay.
“We want Nigerians to bear with us.
“The way things are going, water might go to N100 per sachet, which we don’t want. We don’t want Nigerians to buy water more than N20 per sachet. When we were buying diesel N220, water was N10 but now, we are buying diesel for N1,700.”
The Nigeria Labour Congress (NLC) on Tuesday embarked on a nationwide protest against the high cost of living and hardship in the country.
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