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Obasanjo Speaks On Running Bankrupt Due To High Cost Of Diesel

Former President, Olusegun Obasanjo, on Tuesday, lamented the adverse effects of the high cost of diesel on his business.

According to Obasanjo, the price of diesel has gone high because the management of Nigeria is not what it should be.

Obasanjo noted that people who use diesel in their fishing business might eventually go bankrupt, adding that when it happens Nigerians would still have to eat fish.

He called on fish farmers to come together to agree on sustainable prices that could be adopted to keep them in business.

The former President noted that with the current price of diesel at 800 per litre, the production of a kilogram of fish is N1,400, adding that, to make a very marginal profit, the farmers can’t sell less than N1,500, unless they want to run into a loss.

Obasanjo stated this in Abeokuta, Ogun State, during the Southwest fish farmers’ congress held at the Olusegun Obasanjo Presidential Library (OOPL).

He said, “The price of diesel has gone high because the management of this country is not what it should be. And it is as simple as that. Then, what will happen is that particularly those of us who have to use a bit of diesel in producing fish, we will completely go bankrupt, and when that happens, Nigerians will still have to eat fish.

“Fish production will be out of reach and then, people will be producing fish outside Nigeria and be dumping it here. And you will go jobless, poor and indigent. So, what do we have to do? To come together…we want to sustain fish production and we must be able to take care of those who are going to eat and those of us who are producing.”

Obasanjo asked fish farmers, “How many of you are using diesel in your production? Because I use diesel and I’m already sweating. I’m already sweating.”

Source https://www.naijanews.com/2022/08/02/obasanjo-speaks-on-running-bankrupt-due-to-high-cost-of-diesel/

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Multilingual Blogger, Website and Graphic Designer, Gobir Enthusiast, GTE at WordPress Hausa. I am Abdul Mailahiya Hausa by name, Founder- Operator at Bago Technologies. My hobbies are reading, travelling and discovering.

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