Manufacturers, bakers and economic experts have warned that the rising price of diesel, which has approached N2,000 per litre in some parts of Nigeria, is putting additional pressure on businesses, workers and consumers. The Crude Oil Refinery Owners Association of Nigeria (CORAN) warned that the situation requires urgent government intervention, noting that diesel is a critical energy source for factories, farms, transportation companies and telecommunications firms. CORAN's Publicity Secretary, Eche Idoko, said sustained increases would translate into higher production and transportation costs, worsening production costs, food inflation and the cost-of-living crisis.
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