Inflation is set to be fast crippling the Nigerian economy thereby calling for a quick intervention by the Nigerian government.
No fewer than two million youths may lose their jobs due to the closure of some Sachet water producing factories in Kano Alhaji Muktar Tata, the Secretary-General of the state chapter of Association of Sachet Water Producers of Nigeria, made the disclosure while speaking with newsmen in Kano on Wednesday.
Tata said many producers were compelled to fold up due to the increase in price of polythene used for packaging the commodity. He said prices of the material which sold for N480,000 per tonne in January had now increased to N1.1 million.
“The situation has forced the closure of about 60 per cent of the `pure water’ producing factories in the state. “About two million youths working in the industry might lose their jobs and the state may face scarcity of drinking water if the situation is not addressed,” he said.
The scribe said the situation had compelled the association to increase the price of `pure water’ from N5 to N10 per sachet, and N100 per bag of 20 sachets as against N60 before. “The sachet water vendors have agreed to sell a sachet at N10 and N15 for two sachets,” Tata said.
He said the association would ensure that the commodity was produced under good hygienic condition, and that the association had set up committees to ensure compliance.
(NAN) MTM/ARAB/AMY