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The Nigerian Association of Road Transport Owners (NARTO) has lifted its two-day suspension of petroleum product lifting operations following government intervention and fruitful negotiations.
In a statement issued in Abuja on Tuesday evening, NARTO confirmed the suspension’s reversal after discussions with the Federal Government, facilitated by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri.
Both Lokpobiri and NARTO President, Yusuf Othman, informed journalists that stakeholders in the downstream oil sector had reached agreements to address concerns raised by tanker operators. Among these agreements is an increase in the freight rate for petroleum transporters and a commitment to gradually resolve other operational challenges.
The meeting, which commenced on Monday and continued into Tuesday, included representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Major Energy Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and other relevant parties.
Lokpobiri emphasized the importance of resuming operations to alleviate the challenges faced by Nigerians in accessing petroleum products. The two-day suspension had led to fuel queues in several states and the Federal Capital Territory.
The decision to suspend operations came after NARTO expressed concerns about the high cost of operations, particularly the soaring price of diesel required to power their trucks for product transportation nationwide. The association had cited operational costs outweighing revenues as a reason for the suspension.
However, following fruitful discussions on Tuesday, Othman confirmed the suspension’s cancellation and urged NARTO members to resume operations promptly.
