Headline
Price Gap Fuels Ongoing Petrol Smuggling, Customs Boss Reveals
Despite subsidy removal, Nigeria’s lower petrol prices are still driving smuggling across borders, according to Customs Comptroller General Adewale Adeniyi.
During a quarterly briefing in Abuja, Adeniyi noted, “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.” He pointed out that the pump price in Nigeria, between N880 and N950 per litre, is much less than the N1,600 to N2,000 per litre seen in Cameroon, Niger, and Benin Republic.
This significant price gap, Adeniyi said, means “the arbitrage provides the incentive.” He confirmed that the Customs Service has responded with “Operation Whirlwind,” a targeted anti-smuggling initiative.
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