The Newspaper Proprietors Association of Nigeria (NPAN) has announced plans to effect changes in the cover prices of newspapers of its members effective January 2, 2024.
In a statement issued on Friday, and signed by its Executive Secretary, Feyi Smith, the association said members have retained current cover prices for over four years, while inflation more than doubled within the same period.
“Virtually everything we use to produce newspapers is imported.
“That means that inflation and the devaluation of the currency have had a very serious negative impact on our cost of operations. Our members will make some price changes in the New Year,” the statement revealed.
Noting that newspaper customers are also going through difficult times, NPAN said it is the reason publishers have borne the brunt of high production costs for the last four years without adjusting cover prices.
It, however, said the industry is facing difficulty but doing the best it could to take advantage of technology and better collaboration amongst publishers to improve its efficiency.
The statement also assured consumers of improved content in the new year.