Exporters seek govt action over N90bn loss to lingering port bottlenecks guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
Dike Onwuamaeze
There was palpable fear among members of the organised private sector yesterday over a spike in the price of Automotive Gas Oil, also known as diesel, which hit an all-time high of N290 per litre this week as against N280 per litre last week.
Consequently, the Nigeria Employers’ Consultative Association (NECA), the Nigeria Economic Summit Group (NESG), the Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), and the National Association of Small and Medium Enterprises (NASMEs) raised the alarm that the new price regime might trigger a corresponding increase in prices of goods and services, as most companies in Nigeria rely on diesel to power their factories.
Diesel spikes to N290 per litre amid rally in global crude oil prices thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.
Traders in Abuja told
Daily Trust that there has been a price increase in food commodities since the last three months even though the price of rice has been stable to no increase since the last five months.
A provisions seller, Ahmadu Tijjani, told our correspondent that they were not given reasons for the hike in the price of some of the goods, stating that since food commodities are essential people would still buy even if they have to reduce their purchasing capacity.
According to Tijjani, there is a 20 per cent increase of a good formerly sold for N1, 000 while a 50cl pack of Coca Cola has increased to N1700 from N1600, adding that a local measure of beans that previously sold for N500, N450 is now selling for N800, N650.
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