NIGERIA: GOVT PLANS INCREASE OF FREIGHT RATE OF PETROL TO N9,11 PER LITRE

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The Federal Government has announced the commencement of discussions with representatives of the labour movement on how to raise the freight rate of the petrol from N7.51 per litre to N9.11 per litre.

The arrangement  would signify 21.30 per cent hike in freight.

This was the outcome of the 21st Annual General Meeting of the National Association of Road Transport Owners held at the Zuma Rock Resort, Abuja-Kaduna Expressway.

The Executive Secretary of the Petroleum Equalisation (Management) Board, Ahmed Bobboi, said the agency was waiting for the approval of the Federal Government before it would begin the implementation of the new freight rate of N9.11 per litre.

He also disclosed that the Federal Government was expecting the industrial unions to revert to it on the agreement reached at the joint committee set by the government on the hike in the price of petrol and electricity.

When asked to comment on the implementation of freight increase, the Group Managing Director of Nigerian National Petroleum Corporation, Mele Kyari, represented by Chief Financial Officer, Umar Ajiya, said upon the conclusion of the deliberations, the labour and the Federal Government would announce the effective date in line with the pricing template.

He said, “The Executive Secretary of PEF made a statement that there is on-going engagement between the Federal Government and the labour, and at the end of that process, the government will make adequate pronouncement as to the effective date of that figure as contained in the pricing template.”

Kyari had earlier in his goodwill message commended the association for its operations despite the daunting challenges in the country.‌

He said, “We are not unaware of the conditions of our roads, the insecurity, the highways, and also a number extortions do take place along these highways.”

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