Nigeria Customs Auction Seized Smuggled Petrol For N180 Per Litre
LAGOS JULY 12TH (NEWSRANGERS)-In line with extant laws and the approval of the comptroller-general of customs, Mr Bashir Adeniyi, the Sokoto/Zamfara Command of the Nigeria Customs Service (NCS) has auctioned seized 55,164 litres of Premium Motor Spirit (PMS) within the period under review.
The PMS was auctioned to the general public at a token of N180 per litre.
The area controller, Kamal Muhammed, who stated this while addressing newsmen at the command headquarters in Sokoto, put the Duty Paid Value of the seized PMS at about N39 million.
The area controller explained that the price difference in petrol between Nigeria and other West African countries made smuggling the product profitable for the smugglers.
“Even with the removal of the subsidy, Nigeria remains among the countries with the cheapest PMS.
“PMS is sold at an average of N701.99 per litre in Nigeria, while in Cameroon it is sold at N2,061.55, in Mali at N2,128.20, and the Republic of Benin at N1,672.05,” he stated.
Muhammed added that the smuggling of PMS has continued to create artificial scarcity in some parts of the country.
He said the service would continue to protect Nigeria’s economic interests with dedication, justice, and integrity.
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Posted by News Rangers
on Jul 12 2024. Filed under Business, National.
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