Nigerians Face Harder Times Ahead as Cooking Gas Prices Set to Rise

Marketers of Liquefied Petroleum Gas (LPG), often known as cooking gas, have warned Nigerians to brace themselves for worse times ahead, as prices would rise next week.

According to Gistlover, the President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Olatunbosun Oladapo, gas customers could expect to pay extra for the product beginning next week.

This site notes that the move comes after local consumers of cooking gas have been enjoying inexpensive costs for several months due to a decline in worldwide prices.

Oladapo said to The Punch that the increase in cooking gas prices is due to growing international prices, high tax rates and vessel fees, forex scarcity, and naira depreciation.

The NALPGAM president, who called the impending price increase as “unfortunate,” remarked, “It will begin next week because international prices have risen.” Ship prices have risen, and taxes have risen, but consumers have not earned 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.