December 22, (THEWILL) – The 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 on Friday, and signed by its Executive Secretary, Feyi Smith, the Association said 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 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 said
Noting that newspaper customers were also going through difficult times, NAPA said it was 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 was 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.
