Fuel Hike Will Affect Produce Price — Association

Some farm produce distributors on Friday, expressed dismay over continuous hike in fuel pump price, saying it would increase produce price to the disadvantage of both sellers and buyers.
The distributors spoke, under the auspices of Iyanoba Yam-Plantain-Orange Distributors Association in Lagos State against the backdrop of Federal Government’s fuel increase and anticipated food price hike.
The Chairman of the Group, Mr Abbas Olusola-Alabi, said his members were already overwhelmed by series of levies they encounter on the highways; transporting goods from places of cultivation to the cities where they were needed.
“For months now, our overhead cost has been depilating our profits, making it cumbersome for us to make even; the measure will make transporters to increase their service charge well above what is expected for they have been longing for such. The latest addition in fuel price will compel produce distributors to increase prices of items above the ceiling placed by the association per item to remain in business”.
The association’s spokesman, Mr James Kadiri, who admonished members not to increase prices on old stocks until new stocks, said Nigerians would be the worse for it.
“Both the buyer and seller are at the receiving end of the fuel increase because the price rise in food items is imminent and this will reduce dealers sellers volume and unsettle people who cannot buy what they needs. Our economy transcend fuel hike every now and then, it is not ideal; I wonder how anybody can plan for the future when there is uncertainties in all facets of the economy”.
Fuel increase on Wednesday from N150 to N161 per litre, and the third in the year; was greeted with displeasure, anger and misgiving as some citizens complain that socio-economic activities will be adversely affected by the policy.
Most petrol stations visited had adjusted their pump price to reflect the new price regime to the dismay of motorists, who murmur while paying the new price.