Fuel Queues To Disappear As Tanker Drivers Agree To Resume Operation, Announces New Freight Rate

Fuel Queues To Disappear As Tanker Drivers Agree To Resume Operation, Announces New Freight Rate

  • Petrol tankers have decided to resume operations after a two-day halt following a stakeholder meeting
  • The meeting, which was held in Abuja, had key figures in the oil and gas industry in attendance
  • The strike by NATRO members led to the rise in fuel prices across the country, while other filling stations shut down

Legit.ng journalist Dave Ibemere has over a decade of experience covering Tech, Energy, Stocks, Investments, and the Economy

The Nigerian Association of Road Transport Owners (NARTO) is set to resume operations after withdrawing service for two days.

Petrol tankers in Nigeria
Petrol tankers set to resume operation Photo credit: George Osodi
Source: Getty Images

The decision to resume operation follows a meeting between the Federal Government, stakeholders, and tanker drivers on Tuesday, February 20, 2024.

The meeting was attended by NATRO national president, Alhaji Yusuf Lawal Othman, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA); representatives of the Major Energy Marketers Association of Nigeria (MEMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN) and others.

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Tanker drivers to resume operation

After the meeting, the NATRO boss directed its members to start lifting petrol immediately.

The nation reports that Othman, however, said that marketers have increased the freight rate of the Premium Motor Spirit (PMS) from N32.

He said since the marketers were still calculating the actual figure, he could not state a particular amount of the new freight rate.

He noted that the association would direct its members to start lifting petrol immediately.

NATRO's reasons for withdrawing operation

Legit.ng had earlier reported that in a letter on February 15, NATRO issued threats to suspend operations nationwide over the soaring prices of Automotive Gas Oil, also known as diesel, which fuels their trucks for transporting petroleum products throughout Nigeria.

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According to the letter, NARTO has made several attempts to secure favourable rates but has not received any positive responses, hence the need to withdraw service.

Dangote Refinery finally sets date to sell fuel to Nigerians

Legit.ng reported that the world's biggest single train refinery, the Dangote Refinery, has made an essential move by issuing tenders to sell its first two fuel cargoes for export.

The development is an essential step for the newly launched refinery, which has generated a buzz in the industry.

A report quotes three sources saying that the first cargo of 65,000 metric tons of sulphur straight-run fuel oil, which Dangote has awarded to Trafigura, is due to load at the end of February.

Source: Legit.ng

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