The price of Automotive Gas Oil (diesel) in Nigeria remains at N1,400 per litre, doubling from its rate of N700 per litre in 2022. Farouk Ahmed, the Chief Executive of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), confirmed this during a recent meeting with the Nigerian Association of Road Transport Owners (NARTO).
Ahmed emphasized that NMDPRA would not enforce freight price increases, stating, “When we did the last freight increase in 2022, the diesel price was N700 per litre, but now it is N1400.” He also highlighted the regulator’s approach, mentioning, “As a regulator, we said we are not going to enforce pegging price increases but that they should negotiate with the marketers.”
Following NMDPRA’s stance, NARTO encountered resistance from marketers when attempting negotiations, which led to a temporary halt in operations. However, Othman Yusuf, the National President of NARTO, clarified that the dispute does not involve the pump price. He declared, “The pump price remains the way it has been. Our agitation is strictly on freight rate.”
Notably, NARTO suspended a planned nationwide strike after reaching an agreement over its demands, with Yusuf instructing members to resume work immediately. He expressed determination to persist in discussions with marketing companies based on prevailing economic conditions, signaling a commitment to addressing freight rate concerns.
