Buhari approves freight rate increase for fuel transporters

President Muhammadu Buhari has approved an increase in the freight rate being paid to transporters of petroleum products in a bid to clear the persistent fuel queues by motorists in parts of the country.

Oil marketers had repeatedly complained about the lingering fuel queues in Abuja and neighboring Nasarawa and Niger states.

According to them, the queues were due to the inability of petroleum product transporters to purchase the diesel required to run their trucks.

This, they said, was due to the hike in the pump price of diesel, which was currently dispensed at about N850/liter.

To address this concern, the Nigerian Midstream and Downstream Petroleum Regulatory Authority announced on Thursday that Buhari had considered the issue and had approved an upward review of the freight rate.

“His Excellency, President Muhammadu Buhari, has considered and approved the upward review in freight rate for transporters to alleviate the challenges associated with the distribution of Premium Motor Spirit (popularly called petrol) nationwide,” the NMDPR stated in a statement issued in Abuja.

Although the agency was silent on the exact amount, our correspondent gathered from sources in the authority that the government increased the freight rate by N10.

The agency stated in its statement added that “The approval was after due consultations with industry-wide stakeholders at the instance of the Nigerian Midstream and Downstream Petroleum Regulatory Authority.”



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