Managing Director of the Nigeria
National Petroleum Corporation (NNPC) Dr. Maikanti Baru on Friday visited
Comptroller General of the Nigeria Customs, Col. Hameed Ali (retd) to end
smuggling of petroleum products.
The meeting was held to discuss
increasing rate of smuggling of petrol from Nigeria to neighbouring countries.
Maikanti Baru in a statement said
they discussed ways to fight petroleum products diversion and cross-border
smuggling to neighbouring countries.
The statement read “Petroleum
products diversion and cross-border smuggling to neighbouring countries has
been inimical to the efficient supply and distribution of petroleum products
nationwide
“The existence of arbitrage
opportunities in neighbouring countries has pushed daily National consumption
from less than 35million litres per day to over 55million litres per day.
“During the recent PMS supply
challenge, we observed that unpatriotic marketers are exploiting both land
& coastal borders to smuggle out petr. products meant for the Nign mkt to
other W/African countries due to sheer greed & lack of patriotism
“Inter-Agency collaboration
against hoarding, diversion, smuggling and illegal price hike in ex-depot or
retail pump price has become increasingly necessary in order to safeguard
Nigeria’s Energy Security
“NNPC is concerned that continued
cross-border smuggling of petroleum products will deny Nigerians the benefit of
the FG’s benevolence of keeping a fixed retail price of N145/litre despite the
increase in PMS open market price above N171/ltr
“Petroleum products diversion and
cross-border smuggling to neighbouring countries constitutes serious threat to
our economic stability and National Energy Security.
“Inter-Agency collaboration
against hoarding, diversion, smuggling and illegal price hike in ex-depot or
retail pump price has become increasingly necessary in order to safeguard
Nigeria’s Energy Security.”
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