The Federal Government, on Monday, raised the alarm over the renewed smuggling of Premium Motor Spirit, popularly called petrol, following the massive hike in the pump price of the commodity in neighbouring countries.

It stated that while the average price of petrol in Nigeria was about N701/litre, the average cost of the product in neighbouring countries was N1,787/litre, a development that heightened PMS smuggling out of Nigeria in the past two weeks.

The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, who disclosed this at a press conference in Yola, said the NCS had to join forces with the Office of the National Security Adviser to tackle the menace.

He said, “Today, we are here to update members of the public on the strategic efforts of the Nigeria Customs Service in addressing the critical issue of fuel smuggling through the recently launched Operation Whirlwind, under the auspices of the Office of the National Security Adviser.

“About a year ago, the Federal Government made the bold strategic decision to remove the fuel subsidy. This crucial step was aimed at freeing up substantial funds that could be redirected to other productive sectors of the economy, reducing pressure on our foreign exchange reserves, and diversifying economic growth.

“The immediate impact was an upward adjustment in fuel prices to reflect current realities. Despite the inflationary pressures and financial strain on households, particularly those with lower incomes, comparative studies still show that fuel prices in Nigeria remain the cheapest compared to other countries in the West and Central African region,” he stated.

OmotolaDeniro:


The Federal Government, on Monday, raised the alarm over the renewed smuggling of Premium Motor Spirit, popularly called petrol, following the massive hike in the pump price of the commodity in neighbouring countries.

It stated that while the average price of petrol in Nigeria was about N701/litre, the average cost of the product in neighbouring countries was N1,787/litre, a development that heightened PMS smuggling out of Nigeria in the past two weeks.

The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, who disclosed this at a press conference in Yola, said the NCS had to join forces with the Office of the National Security Adviser to tackle the menace.

He said, “Today, we are here to update members of the public on the strategic efforts of the Nigeria Customs Service in addressing the critical issue of fuel smuggling through the recently launched Operation Whirlwind, under the auspices of the Office of the National Security Adviser.
“About a year ago, the Federal Government made the bold strategic decision to remove the fuel subsidy. This crucial step was aimed at freeing up substantial funds that could be redirected to other productive sectors of the economy, reducing pressure on our foreign exchange reserves, and diversifying economic growth.

“The immediate impact was an upward adjustment in fuel prices to reflect current realities. Despite the inflationary pressures and financial strain on households, particularly those with lower incomes, comparative studies still show that fuel prices in Nigeria remain the cheapest compared to other countries in the West and Central African region,” he stated.

100millionGoal:
The ones who mastermined the smuggling are also the ones acting the most surprised.

One politician somewhere have confined alert and is now a multi billionaire

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.

stonemasonn:
Alot of lessons learnt. One of which is to never trust IMF.

stonemasonn:
Alot of lessons learnt. One of which is to never trust IMF.

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.

stonemasonn:
Alot of lessons learnt. One of which is to never trust IMF.

SalamRushdie:
They have started with their lies again anytime they want to increase fuel price they will start blaming other countries, if the customers can secure our borders then they should be scrapped

oluwaseyi0:
Don't tell me even with the 700 per liter Nigeria is still the cheapest in the region

SalamRushdie:
They have started with their lies again anytime they want to increase fuel price they will start blaming other countries, if the customers can secure our borders then they should be scrapped

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.