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Home News General

Pure water manufacturers create artificial scarcity to hike prices

Rtn. Victor Ojelabi by Rtn. Victor Ojelabi
November 29, 2024
in General
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Pure water prices surge to ₦1,000 per bag as manufacturers face allegations of creating artificial scarcity to manipulate the market

[dropcap]T[/dropcap]he price of sachet water, commonly known as pure water, has surged to ₦1,000 per bag in many areas, sparking widespread public outrage.

Also read: Dano Milk owner, Arla, faces backlash over alleged addictive affecting male fertility, human trials

Manufacturers are being accused of deliberately creating artificial scarcity to justify the hike, leaving consumers and small businesses struggling.

Until recently, a bag of pure water sold for ₦300-₦500.

However, the sudden scarcity has more than doubled the price in some areas, forcing many families and vendors to reconsider their spending habits.

“I used to buy five bags daily for my shop at ₦1,500, but now I’m spending ₦5,000. This is outrageous!” lamented Adeola, a Lagos-based food vendor.

Manufacturers have attributed the price increase to rising production costs.

They claim that the cost of raw materials, such as nylon, diesel, and water treatment chemicals, has skyrocketed due to inflation and fluctuating exchange rates.

“We are not creating scarcity. The production cost has tripled, and we can’t continue selling at a loss,” one manufacturer said.

However, industry insiders suggest that the scarcity is intentional.

Some manufacturers are reportedly stockpiling bags of sachet water to limit supply, creating artificial scarcity that forces prices up.

“It’s a coordinated effort to manipulate the market,” alleged a source who wished to remain anonymous. “Some factories have stopped full-scale production despite having enough materials.”

The price hike has hit small businesses the hardest, particularly roadside sellers who depend on affordable sachet water to sustain their livelihoods.

For many households, especially in Lekki-Ajah area of Lagos State, sachet water has become a necessity due to unreliable public water supply, making the price increase a significant burden.

Also read: New video revives allegations against Access Bank over dead man’s ₦500m scandal

With no immediate solution in sight, public outcry continues to grow. Many Nigerians have taken to social media to criticise pure water manufacturers and demand action.

otunba victor profile picture scaled
Rtn. Victor Ojelabi

Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.

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