Former President Obasanjo Laments High Cost Of Diesel, Forex

Category:  Nigeria News

 

Former President Olusegun Obasanjo seems to also be on the receiving end of what many Nigerians are facing when he, on Tuesday, lamented the high cost of diesel, feeds as well as exchange rate in the country.

The former president said he has been sweating because high cost of diesel have been taking toll on his fish production.

He spoke in Abeokuta, the Ogun State capital, during South-West Fish Farmers’ Congress held at the Olusegun Obasanjo Presidential Library (OOPL). 

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Obasanjo noted that the rise in cost of diesel as well as constant increase in prices of fish feeds will eventually run Nigerian fish farmers out of business except they come together to agree on sustainable prices that could be adopted to keep them in business.

According to him, farmers can longer be producing at the mercy of the buyers who would come around to buy the fish for whatever amount that suited them.

He said many buyers do not take into account the effect of the current economic outcome on the production of such fishes. He explained that with current price of diesel at N800 per liter, production of a kilogram of fish is N1,400.

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According to him, in order to make very marginal profit, the farmers can’t sell less than N1,500 as anything short of that amounts to outright loss.

He said, “The price of diesel has gone high because the management of this country is not what it should be.

We are starting with South-West and in a matter of time it will be all over the country.”

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