Business

‘Buhari Has Finally Finished Us’, Nigerians Lament s ‘Pure Water’ Now Sells For N300, N400 Per Bag

Published

4 years ago

October 6, 2021

Nigerians living in the Federal Capital Territory, FCT, Abuja, have lamented the over hundred percent rise in the price of sachet water popularly known as ‘Pure Water’ .

According to them, President Muhammadu Buhari government has finally finished the masses by taking ‘ordinary’ water out of their reach.

Findings by DAILY POST showed that what is known as a bag of sachet water which contains 20 sachets, is now sold for N200 to N250 by factories while retailers sell for N300 to N400 as against the initial price of Between N80 to N150.

This means that a 50 cl sac of ‘pure water’, which was sold for N10 before now, is now sold for nothing less than N20 to N30 depending on the area.

Resellers such as cold room operators may sell at N240 a bag.

This development follows the trend of minute by minute rise in prices of goods and services in the country currently battling unimaginable inflation.

Some sections of Abuja residents who shared their grievances with DAILY POST lamented that “pure water” has been their saviour due to the unavailability of a reliable supply of safe and hygienic water.

DAILY POST findings further reveal that millions of people in the country, especially in the commercial cities, shanties and rural areas rely on the popular “pure water” for their daily drinking needs.

“Pure water” producers, under the Association of Table Water Producers Association of Nigeria, on Thursday announced they have imposed an increase due to rising production costs.

“Water producers are to sell to their customers if less than 100 bags at N200 per bag,” the notice partly said.

However, some ‘pure water’ companies who spoke to DAILY POST in Abuja all cited the increase in cost of production, saying that they could no longer afford to produce at a loss.

“We can’t continue the way we were going. At a point, many of us wanted to shut down completely but after our general meeting last week, we decided to carry on but not as we use to,” one of the factory operators, who pleaded not to be mentioned, told DAILY POST.

“What is the essence of venturing in a business if instead of making gains you are losing the little one you’ve secured. Prices of raw materials we use for production are now 200 percent higher than what we used to buy them. So the only option to remain in business is to increase the price of the product,” he added.

Nigerians on the streets of Abuja and market places are not happy with the development and are calling on the government to show more concern to the plight of ordinary Nigerians.

June Ibegbulam, who loads taxi in Wuse motor park, said, “My brother, this one tire me. How we wan take survive? Just when we dey talk say we no fit buy food chop again, now water don join food. I stand here under the sun for the whole day. When it was N10, I drink at least 10 to 15 but now, I have to reduce it 5. This government is killing us faster than we expected. Na only God go save us.”

Mama Aminat, a market woman in AMAC Market, said, “Wetin you want make I talk? You no know say everything don spoil? Buhari don finally finish us. The worse you can do to any living thing is to deny them water. Food aside, no one can do without water and that many people can no longer afford ordinary ‘pure water’ is a big problem. I be mama, I get four children. Before, we dey buy 3 bags for N360. But now 3bags na N750. Tell me, how we wan take do am? Na only water person go drink?”

An Abuja based medical expert, who spoke on condition of anonymity, told DAILY POST that the hike in price of sachet water may lead to waterborne diseases and deaths.

According to him, people, mostly those living in shanties and rural areas will now resort to contaminated water due to their inability to afford cleaner water for themselves and members of their families.

He listed some of the most common waterborne diseases to include “Typhoid Fever, Cholera, Giardia, Dysentery, Escherichia Coli (E. coli), Hepatitis A, Salmonella” and called on the current administration to “see to the welfare of ordinary Nigerians,” adding that “if all citizens have access to clean water, these diseases would not exist.”

Business

JUST IN: CBN Removes Cash Deposit Limits, Raises Weekly Withdrawal To N500,000

Published

4 days ago

December 3, 2025

Editor

The Central Bank of Nigeria (CBN) has removed cash deposit limits and also increased the weekly cash withdrawal limit from N100,000 to N500,000.

The CBN made this known in a circular to all banks and other financial institutions, signed by Dr Rita Sike, Director, Financial Policy and Regulation Department.

Sike said that the revisions formed part of ongoing efforts to moderate the rising cost of cash management and address security concerns.

According to her, it will also curb money laundering risks associated with heavy reliance on cash.

She said that the cash-related policies previously issued in response to evolving circumstances were aimed at reducing cash usage and promoting the adoption of electronic payment channels.

“However, with time, the need to streamline and update these provisions to reflect present-day realities became necessary,” she said.

She said that with effect from Jan. 1, 2026, the cumulative deposit limit would be removed and the fee previously charged on excess deposits would no longer apply.

The director said that the cumulative weekly withdrawal limit across all channels has been reviewed to N500,000 for individuals and five million Naira for corporates.

“Withdrawals above these thresholds will attract excess withdrawal charges as specified,” she said. “The special monthly authorisation that allowed individuals to withdraw five million Naira and corporates N10 million once a month has been abolished.”

She said that for Automated Teller Machines (ATMs), daily withdrawal remains capped at N100,000 per customer, with a maximum of N500,000 weekly.

She said that this formed part of the overall weekly withdrawal limit applicable to all channels, including point-of-sale (POS) transactions.

Sike said that excess withdrawals above the stipulated limits would attract three per cent for individuals and five per cent for corporate customers.

According to her, this will be shared in the ratio of 40 per cent to the CBN and 60 per cent to the operating bank or financial institution.

She directed banks to load all currency denominations in ATMs, while the existing limit on over-the-counter encashment of third-party cheques remains pegged at N100,000.

Sike said that such withdrawals would be counted as part of the cumulative weekly limit.

The director said that banks were also required to render monthly returns to the relevant supervisory departments.

She listed the departments to include the Banking Supervision Department, Other Financial Institutions Supervision Department, and the Payments System Supervision Department.

Sike said that revenue-generating accounts of federal, state, and local governments were exempted from the new withdrawal rules.

She said that accounts of microfinance banks and primary mortgage banks held with commercial and non-interest banks are also exempted from the new rules.

She, however, said that the long-standing exemption previously enjoyed by embassies, diplomatic missions, and aid-donor agencies had been removed.

Business

Naira Records Depreciation Against US Dollar Across Official, Black Markets

Published

5 days ago

December 2, 2025

Editor

The naira depreciated against the dollar at the official and parallel foreign exchange markets on Monday to begin the new month on a bearish note.

Central Bank of Nigeria’s data showed that the Naira weakened to N1,448.44 on Monday, down from N1,446.74 traded on Friday last week.

This means that the naira dropped by N1.7 against the dollar on Monday when compared to Friday.

Similarly, at the black market, the Naira declined by N5 to N1,475 on Monday from N1,470 at the close of work last week.

The development comes as Nigeria’s foreign reserves stood at $44.61 billion as of November 27th, 2025.

Business

NNPCL Revenue, Profit Soar To N5.08tn, N447bn In October

Published

1 week ago

November 29, 2025

Editor

The Nigerian National Petroleum Company Limited has announced a significant revenue increase to N5.078 trillion for October 2025.

The state-owned firm disclosed this in its monthly financial report released on Saturday.

According to the financial report, from N5.078 revenue in October, the company posted a N447 profit after tax.

The figure represents a significant 19.2 percent increase in revenue from N4.26 trillion and a 106 percent rise in PAT from N216 billion in September 2025.

The report stated that from January to September, NNPCL paid N11.150 trillion in statutory payments to the federation.

Four days ago, NNPCL posted a total of N45.1 trillion as total revenue for the 2024 financial year.