Nigerian Association of Liquefied Petroleum Gas Marketers has hinted that price of cooking gas will go up starting next week. This was made known by the President of the association, Olatunbosun Oladapo.
According to Punch, Oladapo cited 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.
Oladapo said, “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?
“Local taxes are worsening the problem,” he said, calling on marketers who had the opportunity to buy products locally to fix prices with “consumers’ sympathy”