Connect with us

Hi, what are you looking for?

News

Cooking gas price to increase next week – Marketers say

GAS CYLINDER

Olatunbosun Oladapo, President of the Nigerian Association of Liquefied Petroleum Gas Marketers, has hinted that price of cooking gas will go up starting next week.

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.

“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,” he added.

Olatunbosun described the imminent price increment as unfortunate.

“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,” he added.

According to him, consumers are now returning to firewood, charcoal, and sawdust for cooking.

“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 continued.

He urged the government to tax profit and not products because consumers are not buying gas anymore.

“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” in mind.

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

Tech

TikTok has officially announced plans to cease its operations in the United States by January 19, 2025. “Absent such relief, the Act will take...

News

Adekunle Salako, Minister of State for Health and Social Welfare, has reassured Nigerians not to panic over the human metapneumovirus (HMPV) as it is...

News

Two Nigerian nationals, Olutayo Sunday Ogunlaja, 39, and Abel Adeyi Daramola, 37, each face up to 20 years in a United States prison after...

News

In a significant legal development, the Court of Appeal in Abuja has ruled to set aside the earlier order that nullified the appointment of...