Smugglers are still making brisk business ferrying Nigeria petrol across the borders, despite the Federal government insistence on removal of subsidy to mitigate against the crime.
Nigeria Customs Service Comptroller General Adewale Adeniyi said the cross-border sale of petrol still remain attractive to the smugglers because there was still a difference in price between Nigeria price of petrol and those of its neighbouring countries.
“Despite the removal of the fuel subsidy, it is still profitable for smugglers to take fuel illegally from Nigeria. You know that the prices are dynamic.” Adeniyi said in Abuja during the service’s first quarter performance briefing.
Adeniyi highlighted that while the price of PMS within Nigeria ranges between N880 and N950 per litre, neighbouring countries are selling the same product for far higher amounts. “Is lower compared to around N1600 and N2000 per litre in Cameroon, Niger, and the Benin Republic,” he stated.
