Petrol scarcity looms as transporters threaten to stop product lifting – Newstrends
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Petrol scarcity looms as transporters threaten to stop product lifting

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Petrol scarcity looms as transporters threaten to stop product lifting

The Nigerian Association of Road Transport Owners (NARTO) vowed on Thursday to stop lifting petroleum products beginning next Monday due to the high cost of operations.

Chronicle NG reports that Nigeria may witness another round of petrol scarcity when NARTO ceases operations on Monday.

NARTO members have repeatedly raised concern over the high cost of diesel required to power their trucks for the transportation of petroleum products across the country.

Oil marketers told reporters on Thursday that the price of diesel is between N1,250 and N1,400 per litre, depending on the area of purchase.

NARTO’s President, Yusuf Othman, said in a statement he issued in Abuja on Thursday that the statement was an official announcement from the association’s headquarters that members of the group would park their trucks on Monday.

“Why? It is because what we spend on operations is more than what we get in total, both in local and bridging,” he stated.

Othman said NARTO members were operating at a loss, and it was no longer sustainable for them to endure the losses.

“We will have to suspend operations from now until Monday. We cannot continue to operate at a loss. Most people have parked. A lot more are going to park. But from the point of view of the association itself, we are going to suspend operations on Monday,” he stated.

He said NARTO’s efforts to get the intervention of key stakeholders, the federal government, and industry operators had not yielded positive results.

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The NARTO president said the association had written letters on the unbearable cost of operations to the Chief of Staff to President Bola Tinubu, the Minister of Petroleum Resources, the Department of State Services, the Nigerian Midstream and Downstream Regulatory Authority, the Nigerian National Petroleum Company Limited, and oil marketers.

“We have written letters up to the level of the Chief of Staff to the President. We have written to the Minister of Petroleum Resources (Oil). We have written to the Director-General of SSS. We have written to NNPC’s boss. We have written to the NMDPRA. We have written to the major marketers,” Othman stated.

He stressed that despite the letters, there has been “no response.”

Analysing the market situation, which the members have endured for several months, he stated that the same freight rate that applied when former President Muhammadu Buhari was in office was still subsisting.

“The Lagos to Abuja freight rate that was implemented when the dollar was N650 is still retained now that the dollar is N1,615. Everybody is aware that all our consumables, in terms of operation, are not produced in the country.

“So, by virtue of the rate of dollars, every consumable has increased. But the freight they are paying us has been the same since Buhari’s time. So how is that feasible? During Buhari’s time, one dollar was N650. Today, the dollar is N1,615. The average freight from Lagos to Abuja is N32,” he stated.

Othman further explained that “what I mean by local is that when you load in Lagos, you discharge in Lagos. And bridging means that when you load from Lagos, you come to Abuja. Lagos to Lagos, we are paid N120,000.

“AGO (diesel) alone to distribute fuel within Lagos is N140,000 because it is N1,400/litre. So, they give you N120,000, and you spend N140,000. So, how do you want to operate? You’ve not talked about the cost of vehicles, the cost of loading, or the driver’s allowance. That is for local.”

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He stated that the cost of moving products out of Lagos or Warri to other states was far higher than what the government was paying to tanker drivers as bridging claims.

The government pays an agreed sum to transporters of petroleum products as bridging claims in order to ensure equality in the pump prices of these products across states, though this has not been the case.

NARTO is the umbrella organisation for commercial vehicle owners in Nigeria. The association represents the interests of those involved in the haulage of petroleum products, general cargoes, and passenger movement within the country and the West African sub-region.

NARTO has expressed several concerns regarding transporting petroleum products in Nigeria, impacting both their members and the overall efficiency of the process.

It has complained of poor road conditions, as frequent potholes, dilapidated bridges, and lack of proper maintenance lead to increased wear and tear on vehicles, higher running costs, and longer journey times.

The association has also raised concern about traffic congestion, particularly around ports and depots, as this adds significantly to delivery delays and further increases operational costs.

On inadequate parking facilities, NARTO stated that the lack of safe and designated parking areas often forced drivers to park in unsafe locations, leading to security risks and fatigue.

It had also raised concerns about the multiple checkpoints in Nigeria, as numerous security checkpoints could cause unnecessary delays and harassment for drivers.

Another issue is delayed payments, as late payments from oil marketers create cash flow problems for transporters.

Also, the association has called for safety because the theft of petroleum products, pipeline vandalism, and other security threats create risks for drivers and equipment.

On policy and regulatory concerns, NARTO had observed that some depots limit access to specific transporters, impacting competition and efficiency.

It had stated that inconsistent or ambiguous regulations could lead to confusion and enforcement challenges, adding that transporters often struggled to access affordable financing for vehicle maintenance and upgrades.

Petrol scarcity looms as transporters threaten to stop product lifting

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Yahaya Bello reports to EFCC office with lawyers

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Yahaya Bello reports to EFCC office with lawyers

 

A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.

Bello went to the anti-graft office with his lawyers in the morning.

The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.

He was said to have been taken by some operatives of the agency and are currently being grilled.

This is  coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.

The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.

It stated that the 30-day window was still running for the summons earlier issued.

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Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct 

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Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct 

 

Ebonyi State Governor Francis Nwifuru has announced the immediate suspension of two commissioners with a permanent secretary among others for gross misconduct.

Those suspended are the Commissioner for Housing and Urban Development Francis Ori, and the Commissioner for Health, Moses Ekuma, with the Permanent Secretary of the Ministry of Health.

The suspension followed an incident on Saturday night, when the governor reportedly visited the Ministry of Health’s premises and was said to have found six officials diverting government materials.

Others suspended for three months are the Executive Secretaries of the State Primary Healthcare Development Agency and the Ebonyi State Health Insurance Agency

The suspension order was announced by the state Commissioner for Information, Jude Okpor, who cited alleged misconduct and dereliction of duties as the reasons for the disciplinary actions.

Okpor made the disclosure on Tuesday during a press briefing on the outcomes of the State Executive Council meeting held on Monday at the New Government House in Abakaliki, the state capital.

“Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health, respectively

“In view of the development, the Special Assistant to the Governor on Primary Health was directed to take charge of the ministry in the absence of the suspended commissioner.

Governor Nwifuru directed the suspended government officials to hand over all government properties in their possession including vehicles to the Secretary to the State Government.

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Why we’re borrowing despite surplus revenues – FG

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Nigeria’s Minister of Finance, Mr Wale Edun

Why we’re borrowing despite surplus revenues – FG

The Federal Government has defended its decision to borrow to address budget deficits, despite surpassing revenue targets in 2024.

Finance Minister Wale Edun and Budget Minister Atiku Bagudu clarified this position during a session with the National Assembly’s Joint Committee on Finance, Budget, and National Planning. The meeting focused on the 2025–2027 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

Last week, the National Assembly approved President Bola Tinubu’s $2.2 billion loan request to fund the N9.7 trillion deficit in the 2024 budget partially.

During the session, key agency heads, including Nigerian National Petroleum Company Limited (NNPCL) CEO Mele Kyari, Customs Comptroller-General Bashir Adeniyi, and Federal Inland Revenue Service (FIRS) Chairman Zacch Adedeji, presented their revenue reports.

The agencies reported exceeding their 2024 targets.

  • Customs Service: Generated ₦5.352 trillion by September 30, surpassing its ₦5.09 trillion target for the year. For 2025, the agency projects ₦6.3 trillion, with a 10% increase planned for 2026.
  • NNPCL: Achieved ₦13.1 trillion in revenue, exceeding the ₦12.3 trillion projection for 2024. Kyari announced a ₦23.7 trillion revenue target for 2025.

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  • FIRS: Surpassed multiple tax collection goals, including ₦5.7 trillion from company income tax against a ₦4 trillion target. Education tax collections also exceeded expectations, reaching ₦1.5 trillion compared to a ₦70 billion target.

Overall, ₦18.5 trillion of the ₦19.4 trillion 2024 revenue target had been achieved by September, indicating the goal will be exceeded by year-end.

Despite these surpluses, the government insists borrowing remains essential to cover budget gaps and support vulnerable populations.

Bagudu explained, “Even with agencies exceeding revenue targets, borrowing is necessary to address deficits and boost productivity, particularly for the poorest. This aligns with Agenda 2050, which aims for a GDP per capita of $33,000.”

Edun also reiterated that loans were critical for adequately funding the budget.

The committee, led by Senator Sani Musa, questioned the rationale behind the borrowing and demanded further transparency. The Immigration Service was specifically asked to provide documents regarding an “unacceptable PPP arrangement” before the end of the week.

The session underscored the government’s balancing act between increased revenues and fiscal challenges requiring external borrowing.

Why we’re borrowing despite surplus revenues – FG

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