The Association of Table Water Producers (ATWAP) has announced that it has increased the price of water sachets (pure water) in the country from N10 to N20 due to the hike in prices of raw materials used for production.
The association made this known in a recent video it made which was obtained by Neptune Prime.
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According to ATWAP, prices of most of the raw materials used have gone up by 400 percent saying that this has hindered members of the association from running the business effectively.
The association said raw materials such as film rolls is now sold for N1,350,000 per ton while packing bags has equally increased from its normal price to N7,000 per bundle.
While the business would need constant electricity for production, the association also complained about the hike in prices of premium motor spirit (fuel) which was sold for N65 per litre but the same quantity goes for N165 including diesel.
To this, the association said it is left with no other option than to increase the price of the product for it members to remain in business.
This would be the first time since 2007 that price of sachet water will go up, according to the ATWAP.
Water production is not the only business in the country that is experiencing high cost of production, bakers are also feeling the bite of the harsh economy as price flour has astronomically gone up by nearly 100 percent among other raw materials.
Watch the video below;
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