Why subsidy removal didn't end fuel smuggling – Customs - Daily Trust

Why subsidy removal didn't end fuel smuggling – Customs - Daily Trust

The Nigeria Customs Service has attributed the continued smuggling of petrol across Nigeria’s borders despite the removal of subsidy to price differential in neighbouring countries. Comptroller General of Customs, Adewale Adeniyi, disclosed this during the service’s first quarter performance briefing in Abuja. He explained that despite the removal of the fuel subsidy, it is still profitable for smugglers to take fuel illegally from Nigeria becau…

Smugglers Still Exploiting Fuel Price Gap Despite Subsidy Removal – Customs Boss Laments

Smugglers Still Exploiting Fuel Price Gap Despite Subsidy Removal – Customs Boss Laments Despite the Nigerian government’s removal of fuel subsidies, cross-border petrol smuggling remains a lucrative venture for criminals, the Nigeria Customs Service has revealed. Speaking during the Service’s Q1 performance briefing in Abuja on Tuesday, Comptroller-General of Customs, Adewale Adeniyi, said the persistent […] The post Smugglers Still Exploiting …

Customs: Smugglers buy fuel for N880/litre in Nigeria, sell elsewhere for N2,000/litre

The Nigeria Customs Service has shed light on why fuel smuggling continues across the country's borders despite the elimination of fuel subsidies.

Why petrol smuggling from Nigeria persists – Customs

The Nigeria Customs Service has explained why smuggling of Premium Motor Spirit out of Nigeria has remained prevalent despite fuel subsidy removal.   NCS said that petrol smuggling to Nigeria’s neighbouring countries such as Cameroon, Niger, and the Benin Republic has remained profitable due to the price arbitrage.   The Comptroller General of NCS, Bashir Adeniyi, disclosed this on Tuesday while reeling out the first quarter of 2025 performance …

Adeniyi: 'Despite Subsidy Removal, Price Differential Makes Smuggling Attractive,' Cites N2,000 Per Liter Price In Cameroon - TheNigeriaLawyer

The Nigeria Customs Service has attributed the continued smuggling of petrol across Nigeria’s borders despite the removal of subsidy to price differential in neighbouring countries. Comptroller General of Customs, Adewale Adeniyi, disclosed this during the service’s first quarter performance briefing in Abuja. He explained that despite the removal of the fuel subsidy, it is still profitable for smugglers to take fuel illegally from Nigeria becau…