Accidents: FG Begins Phased Ban on 60,000-litre Fuel Trucks On Roads
The Federal Government has introduced a phased ban on trucks carrying over 60,000 litres of hydrocarbon products, effective March 1, 2025, as part of measures to address the rising number of accidents and fatalities involving petroleum tankers.
The ban, announced by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), will also prohibit trucks carrying more than 45,000 litres of petroleum products from loading at depots starting in the fourth quarter of 2025.
The decision follows a series of stakeholder meetings prompted by recurring accidents and explosions caused by overloaded petroleum trucks. According to NMDPRA Executive Director, Distribution System, Storage and Retailing Infrastructure, Ogbugo Ukoha, the move aims to reduce the alarming rate of truck-related incidents, which have claimed 493 lives in the past three years.
Ukoha disclosed that the ban was part of 10 resolutions agreed upon by stakeholders, including the Nigerian Association of Road Transport Owners (NARTO), Independent Petroleum Marketers Association of Nigeria (IPMAN), Standard Organisation of Nigeria (SON), Major Oil Marketers Association of Nigeria (MOMAN), and the Directorate of State Services (DSS).
The phased implementation is designed to allow truck owners and investors time to adjust. Ukoha explained, “Beginning from March 1, 2025, trucks with a capacity exceeding 60,000 litres will not be allowed to load petroleum products at any depot. By the fourth quarter of 2025, we will also prohibit the loading and transportation of petroleum products in trucks exceeding 45,000 litres.”
He emphasized the need for a balanced approach, acknowledging the impact on investments while prioritizing public safety. “Historically, truck capacities have increased from 27,000 to 33,000 to 45,000 litres. In 2020, stakeholders agreed that 45,000 litres should be the cap. However, recent fatalities involving trucks exceeding 60,000 litres necessitate this action,” Ukoha stated.
The announcement has drawn mixed reactions. While the government highlights the safety benefits, NARTO President Yusuf Othman warned that the ban could lead to the abandonment of over 2,000 trucks and a potential loss of over N300 billion in investments. Othman lamented that each truck represents an investment of over N150 million, which could be rendered obsolete.
Ukoha, however, assured stakeholders that the phased approach would provide ample time for truck owners to redesign their vehicles and reallocate resources. “We are having conversations to ensure a win-win situation for all parties involved,” he said, adding that the Ministry of Works has also intervened to address the impact of heavy trucks on road infrastructure.
The new regulations underscore the government’s commitment to reducing road accidents and fatalities while balancing the economic interests of stakeholders in the petroleum transportation sector.
Nigeria’s Legal Battle with Binance Intensifies Over Economic Damage and Tax Evasion Claims
Nigeria is locked in a high-stakes legal dispute with cryptocurrency exchange Binance, accusing the platform of causing significant economic harm and engaging in tax evasion. The case has garnered global attention, shedding light on the regulatory challenges faced by crypto exchanges and raising concerns about Nigeria’s financial stability.
The Federal Inland Revenue Service (FIRS) claims that Binance’s operations have adversely affected the valuation of the Nigerian naira, prompting the government to take legal action. This lawsuit underscores growing scrutiny of cryptocurrency platforms and their impact on national economies.
Tensions escalated in February 2024 when Nigerian authorities detained two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, during what was initially described as a routine discussion. The detentions highlighted the strained relationship between Nigerian regulators and the crypto giant.
In response to mounting pressure, Binance suspended all naira-related trading activities in March 2024. This move came amid government concerns over the platform’s influence on the naira’s value.
Meanwhile, reports emerged about Gambaryan’s alleged denial of adequate medical care during his detention, drawing widespread condemnation from human rights groups and the international community. U.S. Representative Rich McCormick further escalated the issue by introducing a resolution labeling Gambaryan’s detention as a hostage situation, adding strain to diplomatic relations between Nigeria and the United States.
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