Smugglers Selling Nigeria Petrol for N1,600 in Cameroon, Niger, Benin Republic
Despite Nigeria’s removal of fuel subsidies, smugglers are still profiting by illegally exporting petrol across borders, with the product now selling for as high as N1,600 to N2,000 per litre in neighbouring countries like Cameroon, Niger, and the Benin Republic.
This revelation was made by the Comptroller General of the Nigeria Customs Service (NCS), Adewale Adeniyi, during the Service’s first quarter performance briefing in Abuja on Tuesday.
“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.
He explained that although the pump price of Premium Motor Spirit (PMS) in Nigeria currently ranges between N880 and N950 per litre, it remains significantly cheaper than what is obtainable across the border.
“While the price of the products is coming down to around N850 and N900 per liter in places like Cameroon, it is close to N2,000 per liter. In Niger, it is N1,600 per liter, and the same with the Benin Republic,” he stated.
This wide price arbitrage continues to encourage smuggling, even after the government ended the subsidy regime which previously made Nigerian fuel the cheapest in the region.
To tackle the persistent challenge, Adeniyi said the Customs has rolled out a targeted enforcement strategy.
“This arbitrage provides the incentive. That is why we launched the operation Whirlwind,” he disclosed, referring to the special anti-smuggling operation currently underway.
He emphasized that Operation Whirlwind is focused on tightening controls along fuel transit corridors and border communities where the illegal trade thrives, reaffirming Customs’ resolve to combat the economic sabotage.
