Marketers of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, have told Nigerians to brace up for more challenging times, as prices will be increased next week.
Goldennewsng gathered that the President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Olatunbosun Oladapo, said gas consumers should get ready to pay more for the product starting next week.
This platform observes that the development comes after local consumers of cooking gas have for some months now enjoyed low prices due to a drop in international prices.
Oladapo, while speaking with The Punch, explained that the upward review in cooking gas prices is due to rising international prices, high tax rates and prices of vessels, forex scarcity, and naira devaluation.
The NALPGAM boss, who described the imminent price increment as unfortunate, stated “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.
“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.
“The situation is very unfortunate because prices are going higher. Nigerian consumers are passing through very difficult times because they can no longer afford gas.
“The government should 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?”
He appealed to the government to tax profit and not products because consumers were no longer buying gas, noting that consumers are now returning to firewood, charcoal, and sawdust for cooking.
