Business

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

Published

3 years ago

October 6, 2021

Editor

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

Naira Slumps, Exchanges At Over N1,500 Against Dollar

Published

2 hours ago

May 13, 2024

Editor

The naira continued its depreciation against the US dollar in the foreign exchange market.

Data from the parallel market section and FMDQ showed further depreciation against the dollar on Monday.

At the parallel market, a Bureau De Change operator in Wuse Zone 4, Mistila Dayyabu, told DAILY POST that the naira was sold as high as N1,517 per dollar on Monday before settling at N1,500 per dollar.

“On Monday morning, the dollar was sold at N1,517 per dollar. However, on hearing the information about the coming of the Economic and Financial Crimes Commission operatives, we started selling at N1,500 this evening, ” he said.

The figure increased from the N1, 450 per dollar it traded at the weekend.

Similarly, at the official market, FMDQ data showed that they dipped to N1478.11 per dollar on Monday from N1466.31 last Friday.

This represents an N11.8 drop from the N1466.31 recorded last Friday.

Earlier, the Central Bank of Nigeria Governor, Olayemi Cardoso, said the apex bank’s Monetary Policy Committee will do everything to bring down soaring Nigeria’s inflation, which stood at 33.22 per cent in March 2024.

Business

CAC Opens Centre For Registration Of PoS Operators

Published

5 days ago

May 9, 2024

Editor

The Corporate Affairs Commission has inaugurated a centre for bulk registration of Point of Sale operators in its database.

The CAC Registrar-General, Hussaini Magaji, said this while inaugurating the centre stationed at its Federal Capital Territory Office in Abuja on Wednesday.

According to Magaji, the importance of registering the PoS operators in the commission’s database cannot be over emphasised.

He said the centre was well equipped with all the necessary facilities to operate 24 hours a day and ensure the commission’s achievement of its purpose.

“What we did was accommodate the request from the Fintechs.

“We have allowed them to integrate with the Corporate Affairs Commission; they have developed their structure, and we gave them access.

“Once they supply the necessary details for registration on their platform, the certificate is generally generated and transmitted directly to their platform without them having to contact anyone.

“We have done this to ensure that everyone gets it easy without hitches, but if they choose to apply manually, we have a secretariat open for them to do so,” he stated.

Recall that the Federal Government through the CAC on Tuesday issued a two-month registration deadline to Point of Sales companies, to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria.

Meanwhile, at the event, the registrar-general reiterated that the centre would be opened to all operators in the fintech industry who voluntarily submitted their agents and merchants for regularisation with the CAC.

Magaji said that the registration was in line with President Bola Tinubu’s desire to ensure financial inclusion for the youth and strengthen the fight against fraud, finance and other crimes in the country.

He further expressed his resolve to ensure compliance with the provisions of Section 863 (1) of the Companies and Allied Matters, CAMA 2020, and the CBN guidelines for Agent Banking, 2013.

On security, the CAC boss said that if a crime were committed using the PoS, the government would easily trace the perpetrators to the CAC data platform if such machines were registered.

“If an incident happens and they report it to CAC, if we do not have the operator’s details, we cannot respond, and that is the essence of this registration.

“The registration ensures that every detail of the person is provided, including NIN, passport photograph and all other useful documents.

“And it is an opportunity for more people to be captured into the formal sector,” he said.

The News Agency of Nigeria reports that the Special Adviser to the President on ICT Development and Innovation, Tokoni Peter attended the event.

The event was attended by Dr Salihu Dasuki, the Special Adviser to the President on ICT Policy Office, the PoS operators, and other stakeholders.

(NAN)

Business

FULL LIST: CBN Publishes List Of Licensed Deposit Money Banks

Published

5 days ago

May 8, 2024

Editor

The Central Bank of Nigeria has released a comprehensive list of licensed Deposit Money Banks operating within the country.

The list, which was made public on the CBN’s official website on Tuesday, provides insights into the banking landscape in Nigeria.

Banks with international authorisation include Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.

Commercial banks with national authorisation include Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited and Optimus Bank Limited.

Commercial banks with regional licenses are Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited.

Players in the non-interest banking sector with national authorisation include Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.

In the merchant banking category, the apex banks listed, are Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited.

The financial holding companies listed were Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited.

The Mauritius Commercial Bank Representative Office (Nigeria) Limited was listed as the sole representative office.