The high cost of diesel weighs heavily on my business – Obasanjo

A former Nigerian president, Olusegun Obasanjo, said the high cost of diesel as well as the exchange rate in the country were hurting his fish business.

Mr. Obasanjo, a fish farm owner, spoke at his residence in Abeokuta, Ogun State, at a convention of the Southwest Fish Farmers Price Sustainability Group on Tuesday.

Mr. Obasanjo noted that the rising cost of diesel along with the ever-increasing prices of fish feed would eventually drive Nigerian fish farmers out of business.

He advised farmers to agree on sustainable prices that could be adopted to keep them in business.

"The current price of diesel at 800 (naira) per liter, the production of one kilogram of fish is 1,400 naira. In order to make a very marginal profit, farmers cannot sell less than 1,500 naira , because anything less than that equates to outright loss,” the former president said.

He further stated that farmers can no longer produce at the mercy of buyers who come and buy the fish for whatever amount suits them without considering the effect of current economic prices on the production of those fish.

“The price of diesel has gone up because the management of this country is not what it should be,” he said.

"And it's as simple as that. Then what will happen is that, especially those of us who have to use a little diesel to produce fish, we will go completely bankrupt, and when it will happen, Nigerians will still have to eat fish.

"Fish production will be out of reach and then people will produce fish outside Nigeria and dump it here. And you will become jobless, poor and destitute. So what should we do? To unite …we want to maintain fish production and we need to be able to take care of those who go to eat and those of us who produce.”

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He also asked farmers, "How many of you use diesel in your production? Because I use diesel and I'm already sweating. I'm already sweating."

The group's chairman, Amoo Tunbosun, said the country currently consumes about 3.6 million metric tons of fish per year but produces only 1.1 million tons, leaving a balance of 2.6 (5 ) million tons to import.

"That's the essence of this gathering, we find we have to take our destiny into our own hands, we can't keep producing and be at the mercy of buyers, we feel we have to come back and do something for ourselves. We're starting in the southwest and in a few moments it'll be all over the country."

Congress organizer Steve Okeleji says fish farmers have decided to unite to save the industry.

"If all was well for our economy, this congress would not have been necessary.

“So farmers need to be heard. We are also practically key players in the industry. In fact, we play an important role in the entire value chain of the industry. over time is that we are not able to speak with one voice."

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