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Nigeria Fuel Scarcity: NNPC MD, Baru And Custom Boss, Ali Meet
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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