The Lagos Chamber of Commerce and Industry (LCCI) don dey beg the Federal Government to make sure say crude oil wey dem dey supply to local refineries, dem dey sell am at a special exchange rate of N1,000 to $1. Dis proposal, according to LCCI, go help reduce the cost of producing petrol and other petroleum products inside Nigeria.
LCCI say the current high cost of petrol and other operating expenses dey really affect businesses, and if government agree to dis new exchange rate, it go help local refiners to produce fuel at a cheaper rate, which go reduce the suffering of businesses and ordinary Nigerians.
Dis call come at a time when fuel price hike dey cause serious hardship for many people and businesses across the country. LCCI believe say if government implement dis policy, it go help stabilize the economy and make life easier for Nigerians.
The proposal also aim at encouraging local production and reducing the reliance on imported fuel, which dey cost a lot of money and sometimes lead to scarcity.
