Manufacturers have expressed concerns as the price of diesel has risen to N1,275 per liter in Lagos and above N1,300 outside the state, Daily Trust can report.
The product is selling for N1,270 per liter in Kano State and above that outside the metropolis.
This implies a 26 percent increase in the price of the product in less than one week. It had sold for N1,030 on October 23.
As of Thursday, many filling stations in Lagos adjusted their price to between N1,250 and N1,270.
Manufacturers, who said they are still battling with the forex crisis, high interratesrate, and poor power supply, fear that the hike in the price of diesel might compound their challenges as diesel is used to power their factories.
The situation is amidst the rising inflation which peaked at 26.7 percent in October with many families and households facing a worsening cost of living crisis.
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
Watch, leave your comments, and share to create more awareness on this issue.
#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com