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Ordinary Nigerians on the streets may be in more trouble as several basic fast moving consumer goods (FMCG) continue to go up in prices.
Besides, those whose prices did not go up, have their original sizes slashed.
Business Hilights investigations have revealed that whereas common pure water sachet that used to sell for N5.00 and latter N10,00 has jumped to N15 or N20,00 in parts of Lagos, Port Harcourt and Abuja, it was also observed that the original lengths of several brands of sausage rolls in the markets and even small biscuits have shrunk.
The length of sausage rolls are now shorter while many brands of biscuits that used to be five pieces are not reduced to about three or four.
Some of the manufacturers who barred their minds with Business Hilights team of researchers traced the drops in sizes and hike in prices to lack of foreign exchange to import machinery and other production materials.
Another set of producers say fall in the value of the naira are seriously affecting the sachet water production in the country, fearing of possible cholera epidemics that may come from poor quality of water owing to costs of production.
Still on satchet water production, a major manufacturer in Satellite town who pleaded anonymity said “We have decided to sell a bag of 20 sachets from normal N100,00 to N170,00 due to rise in cost of production and Lagos State government taxes”.
“So, any retailer that can buy ice blocks and our water and decides to still sell for N10.00 will be doing so to his or her disadvantage. In fact, pure water sachet has gone to N20.00 now in Lagos while bottled water is gradually rising to N70.00 from N50.00.
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