The Nigerian Association of Road Transport Owners (NARTO) has threatened to suspend operations on Monday, following the failure of the government to address their repeated complaints over the high cost of diesel required to power their tankers.

NARTO National President, Yusuf Lawal Othman, in a statement, said the union’s members are parking their trucks from Monday.

He stressed: “Why? Because what we spend on operation is more than what we get in total: both in local and bridging”.

According to him, the members have been operating at a loss and it is no longer sustainable for them to endure the losses.

“We cannot continue to operate at a loss. Most people have parked. A lot more are going to the park.

“But from the point of the association itself, we are going to suspend operations on Monday.”

The NARTO president says the distribution of diesel within Lagos costs tanker drivers ₦140,000 but they are paid only ₦120,000.

“Everybody is aware that all our consumables in terms of operation are not produced in the country.

“So, by virtue of the rate of dollars, every consumables has increased. But the freight they are paying us has been the same even during Buhari’s time.

“So how is that feasible? During Buhari’s time, dollar was N650. Today, dollar is noe N1,615. The average freight from Lagos to Abuja is N32.”

Continuing, he explained: “What I mean by local, you load Lagos, you discharge in Lagos. And bridging, you load from Lagos, you come to Abuja. Lagos to Lagos, we are paid N120,000.

“AGO alone to distribute fuel within Lagos is N140,000 because it is N1,400 per litre. So, they give you N120,000 and you spend N140,000. So, how do you want to operate?

“Talk less of cost of vehicles, cost of loading, driver’s allowance. That is for local. For bridging, Lagos to Abuja, they gave us N32.

“If you have a truck of 40,000 litres, you are talking of N1,280,000-N1,216,000. Less 5% of the amount of N1,280,000 Withholding Tax N64,000. Less than 55,000 loading expenses and 15,000 driver allowance.

“Total expenses N134,000 while balance is N1,146,000. AGO is N1400 for 900 litres, totalling N1260,000. There is a total loss of N114,000. The diesel that you use from Lagos to Abuja is 900 litres. So when you use 900 litres at 1,400, that will be N1,260,000. So it is by far more than what is paid.

“Meanwhile the cost of a truck New truck head and tank is N95 million and used is N50 million. So imagine the Amount invested on each truck?”