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FG moves to stop NARTO’s impending operation suspension in Nigeria

FG moves to stop NARTO’s impending operation suspension in Nigeria

The Nigerian government has directed oil marketers to engage in negotiations with the Nigerian Association of Road Transport Owners (NARTO).

This was in order to prevent NARTO members from suspending operations related to the lifting of petroleum products nationwide starting today (Monday),

It was discovered over the weekend that there had been about six meetings between NARTO leaders and oil marketers in the two days after the petroleum product carriers declared their plan to halt operations.

Also, NARTO members and other stakeholders will be meeting with the federal government today (Monday) in Abuja to resolve the issues, with the government acting through the downstream regulator and the petroleum ministry.

This occurred as independent marketers voiced concern about the ongoing depreciation of the naira concerning the US dollar, highlighting the possibility that this development might push petrol’s non-subsidized pump price to N1,500 per litre soon.

The value of the dollar has increased recently, reaching above N1,500. Nigeria continues to import petrol mostly in US dollars through the Nigerian National Petroleum Company Limited.

Marketers claimed PMS was being subsidised, despite NNPCL being silent on the matter. If it weren’t, it would retail for almost N1,500 per litre instead of the N600–N700 per litre it does now.

Because of the high operating costs, NARTO has promised to halt lifting petroleum products starting today (Monday), which could lead to another bout of gasoline shortages in Nigeria.

The high cost of diesel needed to power their trucks for the cross-country transportation of petroleum products has been a persistent source of concern for NARTO members.

According to oil merchants, the cost of diesel varies depending on where it is purchased, ranging from N1,250 to N1,400 per litre.

In a statement released on Thursday in Abuja, NARTO President Yusuf Othman said that the declaration was an official one from the association’s headquarters, stating that members would be parking their trucks starting on Monday.

 

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