April 20, 2024
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OIL & GAS

Nigeria: Petrol Transporters Withdraw Trucks From Loading Products

The Nigerian Association of Road Transport Owners (NARTO) has issued a directive for its members to cease petroleum truck loading activities starting Monday, February 19, 2024, potentially sparking a crisis in the downstream petroleum sector.

The decision stems from mounting operational costs within the industry, prompting NARTO to call for a review of freight charges by oil marketers.

In a letter dated February 15, 2024, addressed to the National Union of Petroleum and Natural Gas Workers (NUPENG) and other relevant bodies, NARTO’s National President, Othman Yusuf, formally conveyed the association’s intention to withdraw operations.

Despite the downstream sector’s deregulation, NARTO asserts that oil marketers have rebuffed their requests for rate adjustments, leaving them unable to sustain operations amidst economic challenges.

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Efforts to engage in negotiations for fair freight rates have yielded no favourable outcomes, compelling NARTO to take this drastic measure.

In their statement, NARTO emphasizes the urgent need for support and understanding from NUPENG and its members, highlighting the dire circumstances faced by petroleum truck owners.

The association’s National Executive Council (NEC) has unanimously resolved to halt petroleum truck availability for loading activities, effective February 19, 2024.

NARTO urges petroleum truck drivers, who are members of NUPENG, to fully cooperate with the directive to safeguard the sustainability of petroleum haulage businesses and ensure effective service delivery.

Given the prevailing economic conditions, NARTO underscores the impossibility of continuing operations without addressing the existing challenges in the industry.

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