At the heart of the recent economic disruption in Nigeria is the shutdown of operations of tanker drivers responsible for transporting petroleum products. These drivers refused to continue their activities due to difficult economic conditions.
The National Association of Road Transporters of Nigeria (NARTO) had threatened to launch a nationwide strike from Monday, February 19, 2024 over the exorbitant cost of diesel, essential to fuel their trucks used to transport petroleum products across Nigeria .
The skyrocketing price of diesel, reflecting the skyrocketing cost of Premium Petrol (gasoline), is attributed to the ongoing foreign exchange crisis in the country. Currently, diesel is sold at prices exceeding 1,250 naira per liter in Nigeria, adding to the financial burden on transport operators.
The decision to suspend the strike was taken following discussions with government officials and key stakeholders to address concerns raised by NARTO members.
This temporary decision by the association represents a relief to the transportation sector and the economy as a whole, which are struggling with the adverse effects of rising fuel costs.