The Nigeria Customs Service (NCS) has intensified its operations against petroleum smuggling by auctioning seized Premium Motor Spirit (PMS) at ₦630 per litre. This auction, taking place today in Yola, the Adamawa state capital, is part of the ongoing “Operation Whirlwind,” aimed at combating the illegal trade of fuel across the nation.
The recent auction follows the interception of 41,425 litres of PMS in Yola, valued at over ₦48 million. This operation is crucial as it seeks to address the significant economic repercussions of smuggling, which drains Nigeria’s foreign exchange reserves and creates artificial fuel shortages in various regions.
Customs has previously conducted similar auctions in other areas. For instance, in the Sokoto/Zamfara region, 55,164 litres of seized petrol were auctioned at ₦180 per litre, contributing to the broader crackdown on smugglers taking advantage of the price disparities between Nigeria and its neighbours.
The public auction of seized PMS serves not only as a legal means to dispose of confiscated products but also as a deterrent, impacting the profitability of smuggling operations. In July 2024, for example, 26,625 litres were auctioned in Cross River at a discounted rate of ₦9,000 per 25-litre kg.
Comptroller General Bashir Adewale Adeniyi has issued stern warnings to smugglers, reinforcing the NCS’s commitment to shutting down illicit operations and holding economic saboteurs accountable. Through these auctions and increased seizures, Customs aims to stem the flow of smuggled fuel and safeguard the nation’s economic stability.
The ongoing efforts of the Nigeria Customs Service, including the auction in Yola, highlight its determination to protect legitimate fuel supply within the country while sending a clear message to those engaged in illegal trade. As these measures continue, the NCS seeks to mitigate the adverse effects of PMS smuggling on Nigeria’s economy.