We provide Instant breaking news alerts and information about the day's most talked-about stories around Nigeria, Africa and the world trending news.
The Nigerian Association of Road Transport Owners (NARTO) has called for an upward review of the freight rate for Premium Motor Spirit (PMS) due to the high cost of diesel in the country.
NARTO is also asking for access to foreign exchange at official rates for its members for procurement of spare parts for their vehicles to ensure safety and stability in the distribution of petroleum products across Nigeria.
NARTO’s President, Alhaji Yusuf Othman, made this known in an interview with newsmen on Thursday in Lagos.
Othman said NARTO members were barely surviving as the price of diesel had continued to increase following the ongoing conflict between Russia and Ukraine.
In his words, “Government has to do something urgently about the situation. It is affecting our operations adversely.
“For instance, you fuel a truck with 1,000 litres of diesel, the cost as of today in the market is about N750,000.
Related Posts
“At the end of the day, when you come to Abuja, you are paid N16 per litre for the 45,000 litres you are bringing in which is N720,000.
“That is even less than the cost of the diesel. You have to pay the loading fees, the driver allowance and other costs.
“What we are paid is by far lesser than our expenditure so, how can you cope?
“You cannot survive and some of our members have already parked their trucks and many others will soon join them.”
Othman said the current transport template payable under the N165 per litre petrol pump price was no longer sustainable despite the government’s decision to continue subsidy on PMS.
He said apart from depriving the nation of huge funds that could be deployed to other critical areas, it was also encouraging the smuggling of petrol across the border to neighbouring countries.
(NAN)
