Manufacturers in the country have lamented the high cost of automotive gas oil (AGO), also known as diesel that is used to generate power for their operations in a country of epileptic power supply.
The driving force of the economy also noted that the product alone gulps about 80 percent of their profits.
While speaking on the plight of manufacturers against the backdrop of rising prices of their products, Segun Ajayi-Kadir, Director General of Manufacturers Association of Nigeria, MAN, said manufacturers should not be blamed for inflating prices of products, considering their high cost of production.
However, a negligible relief maybe coming their way following the purported media reported crash of the price of diesel by 29.4 percent by Dangote Refinery.
The refinery now purportedly supplies the product at a substantially reduced price of N1,200 per litre, representing a 29.4 percent reduction from the previous market price of about N1,700 per litre.
On the high cost of energy, Ajayi-Kadir stated: “We have at different fora informed government and relevant agencies of what to do to bring down these inimical worsening high operating costs in the country. Nigerians should not blame local manufacturers for increasing the cost of goods, because they are being confronted with debilitating conditions.
