Saturday, September 30, 2023

Nigerians to pay more for cooking gas as marketers announce price increase

Tough times await Nigerians, especially cooking gas consumers, as marketers have projected an increase in the price of the product starting next week.

President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Olatunbosun Oladapo, said gas consumers should be prepared for a hike in the price of the commodity.

Meanwhile, Oladapo attributed rising international prices, high tax rates and prices of vessels, forex scarcity, and naira devaluation as some of the reasons for the intended price review.

It is starting next week because international prices have gone up. The prices of vessels have gone up and taxes are high, but consumers are not earning more,” he said.

“Their purchasing power has gone down. Everybody is crying. Consumers, middlemen, and retailers are feeling the impact because business is now on the low side.

Oladapo described the imminent price increment as unfortunate adding that consumers are now returning to firewood, charcoal, and sawdust for cooking.

He urged government to come in and alleviate the suffering of the masses by providing palliatives, reducing taxes and levies.

You can imagine that for every 1kg of gas priced at N700, tax would take way N3.50. How much is left in such a business?” Oladapo queried.

He urged the government to tax profit and not products as sale of gas has dropped.

Local taxes are worsening the problem,” he said, calling on marketers who have the opportunity to buy products locally to fix prices with consumers’ sympathy in mind.


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