The Manufacturers Association of Nigeria (MAN) has urged the federal government to allow them import diesel from Niger Republic and Chad to cushion high prices of the product.
This was disclosed by the Director General of MAN, Segun Ajayi-Kadiri in a statement at the weekend.
He said the sharp increase in the price of diesel has brought untold hardship on the sector, leading to the closure of many industries, reduction in capacity utilisation, the decline in GDP, large scale unemployment across 76 sub-sectors and increase in crime rate among others.
Mr Ajayi-Kadiri urged the government to immediately open up border posts in that axis in order to cushion the effect of the supply gap driven by the high cost of diesel.
The manufacturers also appealed to the government to remove VAT on diesel (AGO) as an instant stimulus for an immediate reduction in price and expedite action in reactivating or privatising the petroleum products refineries in the country.
They said the current increase in prices of crude oil and other refined petroleum products such as diesel is one of such disruptions occasioned by external shocks.
“The recent short supply and over 200per cent increase in the price of AGO are part of the backlashes from the ongoing invasion of Ukraine by Russia,” he said.
