Gas prices goes up next week — NALPGAM boss warns Nigerians

Despite the rising cost in commodities, it appears things are about to get even tougher for Nigerians as the price of gas is set to be hiked as from next week.

This comes from a statement by the President of the Nigerian Association of Liquified Petroleum Gas, Olatunbosun Oladapo as the union of Marketers of Liquefied Petroleum Gas (LPG) have agreed to inflate the price of gas starting from next week.

According to Oladapo, Nigerians should be ready to pay more for the product as he spoke with The Punch.

According to Oladapo, the upward review of gas prices is dependent on the rising international prices, high tax rates, forex scarcity, naira devaluation and prices of vessels.

The NALPGAM boss defends the upcoming gas price hike as a result of the international prices going up while also sympathizing with consumers.

“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.” Oladapo said.

He went on to continue that;

“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?”