Business Drive

The federal government announced that it had reviewed upwards the freight rate paid to petroleum products transporters under the Nigerian Association of Road Transport Owners but was surprisingly silent on the newly approved figure. The Nigerian Midstream Downstream Petroleum Regulatory Authority noted that the new deal as a result of several consultations with industry stakeholders. The Authority says President Muhammadu Buhari considered and approved the upward review in freight rate for transporters to alleviate the challenges associated with the distribution of petrol.