Home News Nigeria Losing Billions To Fuel Smuggling – Customs CG
News

Nigeria Losing Billions To Fuel Smuggling – Customs CG

575

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.

Read: Malawian Vice President’s Aircraft Missing, Rescue Operations Underway
Visit http://www.westafricaweekly.com for more.

 

About The Author

Related Articles

Kenya’s Ruto Proposes Mediating Nile Dam Dispute, Seeks to Purchase Ethiopia’s Power
News

Kenya’s Ruto Proposes Mediating Nile Dam Dispute, Seeks to Purchase Ethiopia’s Power

Kenya’s William Ruto has proposed to mediate the Nile Dam dispute between...

Nigerian Influencer Shares 4-Month-Old News, Subtly Implying Nigeria Is IMF-Debt-Free as Tinubu's Borrowing Spree Shifts to World Bank
News

Nigerian Government Pushes “IMF-Debt-Free” Media Narrative As Nigeria Becomes Africa’s Largest World Bank Debtor

A Nigerian social media influencer has resurfaced a four-month-old news report from...

NewsTravel

Burkina Faso and Italy Sign Visa Exemption Agreement for Holders of Official Passports

Burkina Faso and Italy have taken a significant step toward strengthening bilateral...

NewsSecurity

EFF Raises Concerns Over Gun Violence in U.S. Ahead of 2026 FIFA World Cup

The Economic Freedom Fighters (EFF) has voiced deep concern over the escalating...