ADVERTISEMENT
ADVERTISEMENT
Oil marketers, on Monday, said the foreign exchange crisis in Nigeria and the recent implementation of a 7.5 per cent Value Added Tax on Automotive Gas Oil, popularly called diesel, had pushed up the cost of the commodity to between N900 and N950/litre in many states.
The development has made local manufacturers say that the situation may lead to the closure of some factories and job losses.
Speaking under the aegis of the Natural Oil and Gas Suppliers Association of Nigeria at a press briefing in Abuja, the marketers explained that their inability to access the United States dollars was impeding their ability to import diesel.
The National President, NOGASA, Benneth Korie, told journalists that the cost of diesel was around N650/litre before the Federal Government introduced a 7.5 per cent VAT on the commodity.
PeoplesmindÂ
