CWAY Nigeria, makers of CWAY Drinking Water and other beverage brands, has disclosed plans to increase the price of its popular dispenser water product.
The company, last week, communicated this impending development to distributors ahead of the takeoff date which has been fixed for October 1st, 2018.
According to the new pricing system, it would cost the sum of N600 to refill a bottle of CWAY dispenser bottle water starting from next month. This currently costs about N500. In the same vein, customers would have to spend a total of N1,500 to purchase a brand new bottle with water.
As expected, some of the company’s customers are not pleased about this development. One of them, who spoke anonymously to Nairametrics, said CWAY is choosing to act like a monopolist even though it is faced with competition.
“I am not happy at all. How can I be happy about this? These Chinese people always think they can come to Nigeria and behave anyhow they want. That is why CWAY is now acting like a monopolist; increasing their water price as if they are the only ones selling water. I know the price difference is not much, but is annoying nonetheless.” – Annonymous
Others also wondered why CWAY is choosing to increase its price again even though it operates in a highly-saturated market where the likes of Eva and Swan Water and Aquafina exist.
Note that the company has consistently been increasing its price since 2015; from N300 to the current price.
#pricealert #breakingnews #CWAY #water has gradually increased from about N300 over the past 3 years and will now go for N600 by 24th September, what exactly is responsible for this price increase… pic.twitter.com/NNGzAgFNfG
— Sola Salami (@solasalami) September 19, 2018
We reached out to the company for comments on this matter and got informed that the reason behind the price hike is to serve customers better. According to Ms Risikat, an employee of the company who attended to our request, the following factors were also considered prior to the price increase:
- Cost of production
- Maintenance cost, and
- Multiple taxations.
According to her explanation, the general cost incurred by CWAY in the cause of doing business in Nigeria has been on the rise due to the prevailing economic realities in the country. Consequently, it has become imperative to increase price in order to ensure the company’s survival.
Meanwhile, some Nigerians tend to agree with her, with many having blamed the Government for the increase in CWAY water price.
This nigeria Na nonsense place. How is cway now 600 Naira? We need to sell this country
— Venn Oputa (@VennOputa) September 24, 2018
CWAY Nigeria Drinking Water Science & Technology Co. Limited was founded in 1999. It is a Chinese-owned Nigerian beverage company which has since expanded into five other countries, including India and Kenya.