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The Nigerian Association of Road Transport Owners (NARTO) has announced that it will suspend the lifting of premium motor spirit, commonly known as petrol, starting from Monday.
This decision has raised concerns about a potential fuel crisis in Nigeria. NARTO, which transports approximately 90% of petroleum products across the country, cited the unsustainable costs of operation as the reason for their action.
Yusuf Othman, the National President of NARTO, stated that the expenses incurred by truckers have become increasingly burdensome.
He explained that the prices of consumables, such as fuel, have risen significantly due to the devaluation of the Nigerian currency.
However, the freight charges paid to truckers have remained the same, leading to substantial financial losses.
Othman provided an example, stating that the cost of distributing fuel within Lagos alone amounts to N140,000, while truckers are only paid N120,000.
The situation is further aggravated by the high costs of vehicles, loading, and driver allowances.
For long-distance trips, such as from Lagos to Abuja, the expenses incurred by truckers far exceed the amount they are paid.
Othman emphasized that these financial challenges have made it impossible for NARTO members to continue operating without incurring significant losses.
Efforts to negotiate with relevant agencies and find a solution to the problem have been unsuccessful thus far.
If the fuel crisis persists, it could have severe implications for various sectors of the Nigerian economy, including transportation, manufacturing, and agriculture.
This article was updated 10 months ago
