Newspaper Proprietors’ Association of Nigeria (NPAN) has announced changes in the cover prices of newspapers of its members, with effect from January 2, 2024.
In a statement issued at the weekend and signed by Executive Secretary, Feyi Smith, the association noted that members had retained current cover prices for over four years, while inflation had more than doubled within the same time.
“Virtually everything we use to produce newspapers are imported,” the statement said. “That means that inflation and the devaluation of the currency has had a very serious negative impact on our cost of operations. Our members will make some price changes in the new year.”
NPAN said it appreciated the fact that newspaper customers were also going through difficult times. And that was why publishers have borne the brunt of high production costs in the last four years without adjusting cover prices.
It said the industry is facing a difficult time and is doing the best it can to take advantage of technology and better collaboration among publishers to improve efficiency.
The association further assured consumers of improved content in the new year.
