Smuggling Drives Petrol Price to ₦900 — Customs

Smuggling Drives Petrol Price to ₦900 — CustomsThe National Coordinator of Operation Whirlwind for the Nigeria Customs Service, Comptroller Kehinde Ejibunu, has stated that smuggling of Premium Motor Spirit (PMS) has driven the price up to ₦900 per litre.

Ejibunu made this known while announcing the seizure of 26,950 litres of petroleum products, valued at approximately ₦19 million, being smuggled into the Republic of Beni

According to data from the National Bureau of Statistics (NBS), the average retail price paid by consumers for petrol in April 2024 was ₦701, a 176.02% increase from April 2023’s ₦254.06. Currently, the Nigerian National Petroleum Company Limited sells petrol below ₦600 per litr

At a press briefing at the Ogun State Command Office in Abeokuta, Ejibunu highlighted that smuggling activities contribute to artificial petrol scarcity, inflating price

He detailed that the seized petroleum products, totaling 26,950 litres, were confiscated in Zone A, covering Lagos and Ogun states, within two weeks. This special squad was established by the Comptroller-General of the NCS, Bashir Adeniyi, to intensify efforts against petroleum product smuggler

“In just about two weeks of operation, the Operation Whirlwind team in Zone A intercepted 26,950 litres of premium motor spirit worth ₦19 million,” Ejibunu sai

He emphasized the significant negative impact of smuggling on the Nigerian economy, calling for collaboration with other relevant agencies to combat these activitie

Ejibunu further disclosed specific seizures, including 3,025 litres intercepted on May 31, 2024, along Badagry/Seme road in Lagos State, and 15,400 litres seized on June 7, 2024, along Imeko/Obada road in Ogun State, transported in a truck with the registration number 95D4244

Additional seizures included 2,500 litres on June 8, 2024, along Owode/Atan Road, Ogun State, and 6,025 litres along Owode/Ilaro roa

Ejibunu announced that the petrol stations involved have been sealed, and their owners will face prosecution. The seized products will soon be auctioned due to their inflammable nature. He urged those engaged in economic sabotage to reconsider or face legal consequences.d.D.s.d.s.s.e.n.