NARTO suspends planned strike amid economic woes

The Nigerian Association of Road Transport Owners (NARTO) has decided to halt its proposed nationwide strike following discussions with the Federal Government and stakeholders.

This development comes after tanker drivers ceased operations and refused to transport petroleum products due to the challenging economic conditions.

NARTO had threatened to initiate a nationwide shutdown beginning Monday, February 19, 2024, due to the exorbitant cost of Automotive Gas Oil (diesel), essential for fueling their trucks used in transporting petroleum products across Nigeria.

The steep increase in diesel prices, mirroring the surge in the cost of Premium Motor Spirit (petrol), has been attributed to the prevailing foreign exchange crisis in the country.

Presently, diesel is being sold at prices exceeding ₦1,250 per litre in Nigeria, compounding the financial burdens faced by transport operators.

The decision to suspend the strike was made following engagements with government representatives and key stakeholders to address the concerns raised by NARTO members.

The association's decision reflects a temporary reprieve for the transportation sector and the wider economy, which has been grappling with the adverse effects of rising fuel costs.

However, the underlying challenges, particularly the forex crisis, remain unresolved, necessitating sustained efforts to stabilise the economy and mitigate the impact on businesses and consumers.