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IGP meets CPs, others over rising insecurity

Written by on August 3, 2022

In business, it seems the scarcity and hike in price of premium motor spirit is not the only petroleum product citizens have to deal with as the price of cooking kerosene have increased from N700 to between N800 and N850 per litre.

Residents of Plateau state who are bearing the brunt of the persistent scarcity and hike in the price of kerosene have expressed their concerns

A Manager in one of the filling stations in Jos, Mr Nonso Jude said the increase in the product is due to inconsistency in foreign exchange.

While retailers complained of the constant increase in price from N700 to N850 this morning and they do not know how much to sell the kerosene as the price is keeps increasing.

Some consumers also on the hardship they are facing as a result of the hike in Cooking Kerosene price and prefer to use gas which is abt the same price with Kerosene which they said finishes faster than even gas.

Ex-President Olusegun Obasanjo has lamented the rising cost of diesel, saying it has adversely affected his fish business.

Speaking during a southwest fish farmers’ congress on Tuesday at the presidential library in Ogun State, Obasanjo said the high diesel price may turn fish farmers into bankruptcy.

Obasanjo said the price of diesel has gone sky high because the management of this country is not what it should be.

According to Obasanjo, if something is not done urgently to stem the tide, fish production would be out of reach, and then people will be producing fish outside Nigeria and dump it in Nigeria.

the Naira on Tuesday depreciated against the dollar at the Investors and Exporters window, exchanging at N430.67.

The figure represented a decrease of 0.42 per cent compared with the N428.88 it exchanged for the dollar on Monday.

An exchange rate of N444 to the dollar was the highest rate recorded within the day’s trading before it settled at N430.67.

Meanwhile, some financial experts have described as ‘worrisome’ the unwholesome depreciation of the nation’s currency.

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