Despite the recent outcry by Nigerians over the increase in prices of food across the country, things might get a little more ugly with the report of a possible increase in the price of pure water from an average of N20 to N50 per sachet.
Bizwatch Nigeria gathered that the Water Producers Association of Nigeria (WAPAN) has warned that if the federal government implements its proposed Excise Duty on carbonated beverages, it will result in an increase in the price of production which will affect the sales price too.
According to the World bank statistics, higher inflation could send about 5.6 million Nigerians into poverty. in this case, both manufacturers and consumers will be greatly swayed by the proposed imposition of levies.
READ ALSO: Inflation: 5.6m Nigerians May Fall Into Poverty – World Bank
Reports revealed that Nigerians have witnessed sachet of water rise three times within the year from N5 to N10 and to N20.
What You Should Know About Pure Water Price Increase
Recall that the House of Representatives Committee on Finance had in August 2021, resolved that it would amend the Finance Act to include levies on all carbonated and non-carbonated drinks.
However, The National President of WAPAN, Eneri Odiri Jackson at an event in Lagos speaking to Daily Trust revealed that the imposition of taxes on chemicals used in the production of pure water will have ripple effects on its price.
He said; “There is no doubt that the price of pure water will rise from the present N20 to about N50,”
He further urged the federal government to engage experts before taking any irrational decision that might affect the standard of living of its people.
