Manufacturers have lamented the high cost of automotive gas oil (AGO), also known as diesel, which is used in generating power for their operations, noting that product gulps about 80 percent of their profits.

Speaking on the plight of manufacturers against the backdrop of rising prices of their products, the Director General of MAN, Segun Ajayi-Kadir, said manufacturers should not be blamed for inflating prices of products, considering their high cost of production.

However, a bit of relief may have come the way of the manufacturers following the recent crash of the price of diesel by 29.4 percent by Dangote Refinery.

The refinery now supplies the product at a substantially reduced price of N1,200 per litre, representing a 29.4 percent reduction from the previous market price of about N1,700 per litre.

On the high cost of energy, Ajayi-Kadir stated: “We have at different fora informed government and relevant agencies of what to do to bring down these inimical worsening high operating costs in the country. Nigerians should not blame local manufacturers for increasing the cost of goods, because they are being confronted with debilitating conditions.

SoNature:
Instead of investing in massive power projects, Tinubu is spending trillions of naira constructing a coastal road to connect states that are already linked by roads.

E no go ever beta for the person wey swear say this country no fit get leaders wey get sense.

tollyboy5:
The manufacturing sector too are not very honest.
Since the rise in naira most of the manufacturered product that hardly need foreign raw material still maintained their exorbitant prices.
Dangote bought his crude oil from usa when dollar was high. And now the pump price of imported diesel is at ₦1250 base on the exchange rate. You won't expect dangote to loose.
Let him sell off what he has now, the more naira gain more strength the lesser the price of diesel because dangote cannot sell above imported market price.

Better days ahead.

Max24:

Government investing in power projects is not a smart move. That was the genesis of all the wasted monies by Obasanjo and others. Same happens every time government spends money on refineries in the past. It's better for government to create a conducive environment for private investors and allow them to invest in power projects rather than using government money. An example was the old govt telephone company, NITEL, compared to when private investors like MTN, ECONET,GLO entered the field. That revolutionalized the telecoms sector. Government should do same with power.

Kenochi:
In an earlier thread,I stated that Nigeria is the only country in the world that economic activities are run on Diesel
Our energy mix is probably the worst in the world,in a country where people are struggling to produce electricity,you now mandate that all electricity produced should be sent to the National Grid, power is produced in Akwaibom and that power is sent to a Central Grid
That central grid now sends it to Companies in States who now resell it,this is why we will never progress
This Government must decentralize power,let us have Regional Grids for all the regions.
Coming back to MAN,I feel for them,I salute their patriotism because it is not easy producing anything in Nigeria
I also salute Dangote,I sincerely feel they can still reduce the price of Diesel,even if Government can intervene to ask that the price be reduced to at least 1000 naira,it will greatly reflect on the end users who desperately need respite

Kenochi:



https://www.vanguardngr.com/2024/04/diesel-gulps-80-of-manufacturers-profits-man/

SoNature:
Instead of investing in massive power projects, Tinubu is spending trillions of naira constructing a coastal road to connect states that are already linked by roads.

E no go ever beta for the person wey swear say this country no fit get leaders wey get sense.

Flier:
The available power plants is almost enough for Nigeria we are not really consuming light like that
The problem is Gas,they are not buying gas to power the plants

SoNature:
Instead of investing in massive power projects, Tinubu is spending trillions of naira constructing a coastal road to connect states that are already linked by roads.

E no go ever beta for the person wey swear say this country no fit get leaders wey get sense.

Tjra:
The refinery now supplies the product at a substantially reduced price of N1,200 per litre, representing a 29.4 percent reduction from the previous market price of about N1,700 per litre.


Naira has also gone down from 1,900 to 1,200. When will MAN reduce prices of goods?

Ejiakusmith:
I also had the Dangote Refinery will be selling fuel ⛽ #500 as it starts working...... Make e do start oooo high cost wan kill person oo

Kenochi:



https://www.vanguardngr.com/2024/04/diesel-gulps-80-of-manufacturers-profits-man/

nairalanda1:


Because the gas people are owed nearly 2 trillion naira by the power companies, and they are tired of selling on credit.

Also, we need to get an extra 10000 MW before we can assure every Nigerian on the grid now gets light.

Flier:
Power will be almost stable if they can maintain the available 7000MW, last year August through December was a good example
Even if we built 100,000MW plant,these people won’t buy gas to power it.They just prefer to exploit people
Only hydro power can really power Nigeria because our capitalists are criminal minded