The Comptroller General of Nigeria Customs Service, Bashir Adewale Adeniyi, has disclosed that Nigeria loses billions of naira to fuel smuggling.
Adeniyi, while speaking at a press briefing in Yola, Adamawa State, on Monday, described the scale of fuel smuggling in the country as an “epidemic”.
“The situation is dire… Smugglers are exploiting the price difference to reap huge profits, depriving the nation of much-needed revenue,” he said.
However, he noted that the customs had launched Operation Whirlwind, which helped it seize over 150,950 litres of Premium Motor Spirit (PMS) valued at N105.9 million in two weeks.
He admitted that the seizure was a fraction of the illegal trade’s estimated billions.
“The consequences of inaction are severe. If left unchecked, this epidemic will further deplete our foreign exchange reserves, exacerbate economic challenges, and fund illegitimate activities,” he said.
Meanwhile, an Investigative report by FIJ has indicted men of the Nigerian Customs for complicity in smuggling.
Notably, the CG has not made any public comment on the report since it was published in February.
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