High value of diesel taking toll on my enterprise – Obasanjo


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Former Nigerian President Olusegun Obasanjo has stated that the extreme value of diesel along with the nation’s foreign exchange cost are hurting his fish enterprise.

Mr. Obasanjo, who runs a fish farm, said he has been sweating in consequence of the extreme value of diesel has been affecting his fish productiveness. He remarked Tuesday at his Abeokuta dwelling at a gathering of the South-west Fish Farmers Price Sustainability Group.

Mr. Obasanjo stated that rising diesel prices, along with repeated will enhance in fish feed prices, will finally drive Nigerian fish farmers out of enterprise.

He advisable farmers attain an settlement on sustainable prices that could be used to take care of them in enterprise.

“With the current price of fuel at N800 (naira) per litre, the cost of producing a kilogramme of fish is N1,400.” Farmers ought to promote for decrease than N1,500 as a approach to make a extremely marginal income, since one thing a lot much less is an absolute loss,” warned the earlier president.

He went on to say that farmers cannot produce on the mercy of shoppers who would come spherical to buy the fish for irrespective of value they want, with out considering the have an effect on of current monetary pricing on the manufacturing of such fish.

Source: Premium Times Online News

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