Oil Marketers Lament as Diesel Price Rises to N950/per litre

Oil marketers have lamented that the foreign exchange crisis and the implementation of a 7.5 per cent Value Added Tax on Automatic Gas Oil, popularly known as diesel, had pushed up the cost of the commodity to between N900 and N950/litre across the country.

The National President of the Natural Oil and Gas Supplies Association, Beneth Korie, disclosed this to journalists on Monday that the country continues to pile up pressure against the Naira by relying solely on importing diesel and fuel.

He urged President Bola Ahmed Tinubu to get Nigeria’s refineries working to reduce the dependence on importing.

Korie also called on the president to intervene in the forex crisis to halt the upward rise of diesel.

“Diesel price is now approaching N900 to N950/litre depending on where you buy it. Before the introduction of VAT on diesel by the FIRS, diesel was around N650/litre.

“Our refineries were built by human beings and can be fixed by human beings. Nigerian engineers can fix these refineries instead of us depending on imports. It is not sustainable”, he stated.